Yooli, a Chinese Peer to Peer lending platform, announced Wu Yiran to be the company’s new CEO on September 11 2015. According to Wu, Yooli will expand both horizontally and vertically. On the one hand, Yooli will seek better control over partner MFIs in the future by investing in them. On the other hand, Yooli will work to get financial licenses in micro lending, guarantee, and potentially Peer to Peer lending. Yooli is also negotiating with several banks regarding money trusteeship. Wu also emphasized institutional development, hoping to weaken personal influence in the company’s operation.
Yooli’s new road map shows the effect of the new Chinese regulatory regime and the need for companies involved in financial services to be both vertically and horizontally integrated in order to ensure that quality standards are monitored throughout the entire lifetime of a finance transaction
Ovamba – which like Yooli partners with numerous small banks and independent lenders has also been aggressively focusing on quality control of our partners and ensuring that we have a win-win-win relationship where the borrower, the originating lender, and Ovamba all benefit from capital deployed by Ovamba’s investors.