BEIJING, Aug. 14, 2019 /PRNewswire/ -- Hexindai Inc.
(NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer
lending marketplace in China,
today announced that its invested Indonesian online lending
platform, Musketeer Group Inc. ("Musketeer"), has completed
registration for its peer-to-peer (P2P) lending platform with the
Indonesian Financial Services Authority (OJK).
Musketeer's P2P platform, PT Technology Indonesia Sentosa, is
among the early batch of lending companies in Indonesia that have registered with OJK. Early
this year, OJK laid out the pre-requisites for online lending
players to register and obtain licenses. To register, online
lenders are required to work with local banks, have physical
offices, enlist with the Communications and Information Ministry
and have a minimum of Rp 1 billion
(about US$70,000) in capital
reserves. Only a limited number of qualified online lenders in
Indonesia can register with
OJK.
Hexindai acquired a 20% equity stake in Musketeer in August last
year. The move was Hexindai's first cross-border investment and the
first step in its strategy to explore overseas opportunities by
leveraging its extensive online lending experience and expertise in
new high-growth markets.
"We are pleased that Musketeer's P2P platform has completed the
registration in Indonesia," said
Mr. Xiaobo An, Hexindai's Founder,
Chairman and Chief Executive Officer. "We will continue to share
our experience and support Musketeer's business growth and
compliant operations. We are confident that Musketeer will enjoy
robust growth to meet the booming demand in Indonesia."
About Hexindai Inc.
Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company") is a
fast-growing consumer lending marketplace based in Beijing, China facilitating loans to meet the
increasing consumption demand of the emerging middle class in
China. Hexindai provides borrowers
with convenient and ready access to credit through its online
marketplace as well as its cooperation with institutional
investors. Hexindai's strong user acquisition capabilities combined
with its cooperation with institutional investors and an online
platform with extensive offline networks, an advanced risk
management system, and strong strategic cooperative relationships
with a custodian bank and a guarantee company to safeguard
investments, allows the Company to generate higher customer
satisfaction, reliance, and realize fast growth in China.
For more information, please visit http://ir.hexindai.com/
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Any statements that are
not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: the Company's goals and strategies; its future business
development, financial condition and results of operations; the
expected growth of the credit industry, and marketplace lending in
particular, in China; the demand
for and market acceptance of its marketplace's products and
services; its ability to attract and retain borrowers and investors
on its marketplace; its relationships with its strategic
cooperation partners; competition in its industry; and relevant
government policies and regulations relating to the corporate
structure, business and industry. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the SEC. All information provided in this
announcement is current as of the date of this announcement, and
the Company does not undertake any obligation to update such
information, except as required under applicable law.
For media inquiries, please contact:
Hexindai
Ms. Daisy Wang
Tel: +86-10-5380-6196
Email: ir@hexindai.com
ICR Inc.
Jeff Pei
Tel: +86 10 6583-7514
Email: Jianfeng.pei@icrinc.com
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SOURCE Hexindai Inc.