Established in 2013, Jingdong Digits Technology was previously titled JD Digits but is now known as JDT, after the company broadened its focus into artificial intelligence and cloud computing. That signalled a lesser emphasis on its roots as the fintech unit of e-commerce giant JD.com. It provides a range of financial services to consumers, start-ups, and small and medium-sized enterprises, with business lines including supply chain finance, consumer finance, crowdfunding, asset management, payment solutions and insurance.
With Sequoia China and Harvest Investment among its early backers, JDT was said to be considering an initial public offering on Shanghai’s Nasdaq-style STAR Market last year, valuing the company at Rmb200 billion. However, the plan was scrapped soon after Ant Group’s IPO ran into political problems. The domestic media has been reporting that the STAR board now requires fintech firms to do more to prove their technology credentials, which may delay JDT’s plans for a listing of its own.
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