LexinFinTech has bid on a plot of land in Chinese Shenzhen

LexinFintech Holdings, an online consumer finance company, has successfully bid for a plot of land in Shenzhen’s Nanshan district. Total purchase price for the acquisition of the land plot is expected to be roughly $150bn.

The company hopes to reach a final agreement in the next few weeks.

“This land acquisition will enable us to facilitate our continued growth and expansion, as we plan to build our new headquarters in this new location,” said Jay Wenjie Xiao, chairman and CEO of LexinFintech. “In addition, the construction of our new headquarters in Shenzhen, one of China’s technology hubs, will allow us to further cement our position as one of the leading technology companies serving the credit and consumption needs of the young generation in China.”

LexinFintech integrates its e-commerce-driven instalment finance platform, Fenqile, with advanced risk management technologies, the company’s Dingsheng asset distribution technology platform, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of users funding requests with offers from the Company’s more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions.

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