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Sequoia-Backed P2P Lender Huobank Collapses As Beijing Mops Up Online Finance Risks – FintekAsia


Sequoia-Backed P2P Lender Huobank Collapses As Beijing Mops Up Online Finance Risks


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News Source: China Money Network.

Houbank, a Chinese online peer-to-peer (P2P) lending platform that counts Sequoia Capital China as a major shareholder, has been put on file for investigation and prosecution of alleged "illegal absorbing public deposits," the municipal public security bureau in Shanghai said in a statement on late Tuesday.

Sequoia-Backed P2P Lender Huobank Collapses As Beijing Mops Up Online Finance Risks c...



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This news article comes via China Money Network, who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of

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