360 Finance, Inc. Names Eric Xiaohuan Chen to the Board of Directors as Director
November 27, 2019 at 04:59 pm IST
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360 Finance, Inc. (360 Finance or the Company), announced that FountainVest Partners (FountainVest), through its investment arm Ruby Finance Investment Ltd., acquired an aggregate of 11,521,266 ADSs of the Company from certain holders of the Company’s ADSs, upon the completion of which, FountainVest became a significant shareholder of the Company and Mr. Eric Xiaohuan Chen, who was designated by FountainVest, was appointed to the Company’s board of directors as a director, effective immediately. Mr. Chen is currently serving as the managing director & head of financial services of FountainVest Partners. Before joining FountainVest Partners in 2008, Mr. Chen worked in investment banking department of Lehman Brothers and Citigroup since 2006. From 2004 to 2006, Mr. Chen worked with Micron Technology. Mr. Chen received his Bachelor's degree in electrical engineering from National University of Singapore in 2004 and his EMBA degree from China Europe International Business School in 2018.
Qifu Technology Inc, formerly 360 DigiTech Inc, is a China-based company mainly engaged in credit technology services. The services provided by the Company are divided into credit-driven services and platform services according to the nature of the service and the level of related credit risk. The credit-driven services match potential borrowers with financial institutions, enabling financial institutions to obtain borrowers, conduct credit evaluation, fund matching and post-loan services. The platform services include a full range of loan assistance and post-loan services under the capital-light model, intelligent marketing services, referral services, and risk management software as services (SaaS) for financial institution partners under the Intelligent Credit Engine (ICE) model.