Chinese fintech firms have been showing their interest to partner with Indian firms. At least half a dozen Chinese financial-technology companies have held multiple meetings with the founders of digital lending startups in India for investment as well as partnership opportunities.
“We started looking at the India market in October. I have made several trips to do the groundwork for our market entry since then,” said James Chan, chief executive for Asia-Pacific at WeCash.
The collaboration with Chinese fintech companies will give its Indian counterparts, ability to innovate and robust business models. According to reports, a Beijing-based fintech startup, which uses big data and machine-learning for credit-assessment in China, will set up an India team within the next two months.
Chinese lending platform Billion Finance, peer lending platform iTouzi, and fintech companies Finup, Fenqile, and CashBus, too, have held meetings with Indian startups for a possible partnership.
Through the meetings with Indian startups, Chinese firms are trying to explore the possibilities of Indian market. A finer understanding about the trends of the local market help them devise unique strategy for India.
Reputed Chinese firms like micro-lending company Fenqile and smartphone maker Xiaomi have already invested in Bengaluru-based student lending platform KrazyBee last year. With this new trend, more companies from China are likely to invest in Indian startups.