X Economical Announces its Financial commitment in a VC Fund Managed by Dragonfly Ventures II, L.P.
3 min readSHENZHEN, China, March 2, 2021 /PRNewswire/ — X Economic (NYSE: XYF) (the “Organization” or “we”), a foremost engineering-driven own finance company in China, today declared determination to invest in an mixture quantity of US$10 million in a VC fund managed by Dragonfly Ventures II, L.P. (“Dragonfly”) for blockchain market expense chances. Dragonfly is a enterprise cash fund focusing on the blockchain sector with its very long-expression benefit expense technique and research-driven process. Dragonfly has produced investments in some of the foremost blockchain platforms like Maker, Compound, Celo, UMA, etcetera.
The Firm thinks that this investment decision can deliver an opportunity of exploring impressive technologies and the opportunity for enhanced profitability in long phrase, which is in line with the Company’s small business techniques.
About X Economic
X Economical (NYSE: XYF) (the “Enterprise”) is a foremost technology-driven private finance firm in China concentrated on assembly the substantial demand from customers for credit history from people today and compact-to-medium-sized enterprise homeowners. The Company’s proprietary major info-driven hazard management program, WinSAFE, builds hazard profiles of prospective borrowers using a wide range facts-pushed credit history evaluation methodology to properly examine a borrower’s price, payment functionality, payment attitude and in general creditworthiness. X Financial has established a strategic partnership with ZhongAn Online P&C Insurance policies Co., Ltd. in multiple areas of its organization functions to immediately complement its cutting-edge danger administration and credit assessment abilities. ZhongAn On-line P&C Insurance plan Co., Ltd. offers credit history coverage on X Financial’s financial investment solutions which drastically improves investor assurance and enables the Corporation to appeal to a diversified and lower-expense funding foundation from people today, enterprises and money institutions to assistance its development. X Monetary leverages economical technological innovation to supply hassle-free, successful, and safe financial commitment products and services to a broad vary of superior-top quality borrowers and mass affluent buyers which complements classic economical institutions and allows to market the enhancement of inclusive finance in China.
For additional facts, remember to pay a visit to: http://ir.xiaoyinggroup.com.
Protected Harbor Statements
This announcement is made up of ahead-hunting statements in the indicating of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-searching statements are produced under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be discovered by terminology this sort of as “will,” “expects,” “anticipates,” “foreseeable future,” “intends,” “strategies,” “thinks,” “estimates,” “prospective,” “keep on,” “ongoing,” “targets,” “assistance” and related statements. The Business may also make composed or oral ahead-seeking statements in its periodic studies to the U.S. Securities and Trade Commission (the “SEC”), in its annual report to shareholders, in press releases and other composed elements and in oral statements designed by its officers, directors or personnel to third get-togethers. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are ahead-looking statements that involve variables, dangers and uncertainties that could bring about actual effects to differ materially from these in the ahead-searching statements. This kind of factors and dangers include, but not confined to the subsequent: the Firm’s goals and strategies its long term business enterprise enhancement, financial affliction and results of functions the expected expansion of the credit rating industry, and market lending in certain, in China the demand from customers for and current market acceptance of its marketplace’s products and expert services its potential to attract and retain debtors and investors on its market its interactions with its strategic cooperation associates competitiveness in its industry and appropriate federal government guidelines and rules relating to the corporate composition, small business and sector. Additional facts concerning these and other challenges, uncertainties or aspects is involved in the Firm’s filings with the SEC. All information and facts offered in this announcement is existing as of the day of this announcement, and the Firm does not undertake any obligation to update this sort of facts, except as necessary below relevant legislation.
For investor and media inquiries, remember to speak to:
X Economic
Mr. Frank Fuya Zheng
E mail: [email protected]
Christensen
In China
Mr. Eric Yuan
Phone: +86-10- 5900-1548
E-mail: [email protected]
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E mail: [email protected]
Resource X Monetary
