BEIJING, Aug. 14, 2018 /PRNewswire/ -- Hexindai Inc.
(NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer
lending marketplace in China,
announced that it entered into definitive agreements to acquire a
20% equity stake in Musketeer Group Inc. ("Musketeer") on
August 9, 2018, an Indonesian online
lending platform that offers consumption installment loans, for
approximately US$1.6 million, and
simultaneously completed the acquisition.
"Our investment in Musketeer is our first cross-border
investment and the first step in our larger strategy to explore
overseas opportunities by leveraging our extensive experience and
expertise in new high-growth markets," said Mr. Xinming Zhou,
Chief Executive Officer of Hexindai. "Indonesia's youth demographics and economic
development creates a significant opportunity for us to benefit
from the online lending boom in Indonesia. Musketeer's corporate values and
strategy are closely aligned with ours, which I believe will facilitate a close
relationship that will allow us to share our experience and support
them as they grow."
Indonesia's growing population
of over 262 million and youthful demographics have enormous
consumption potential and a strong demand for borrowing having been
underserved by traditional financial institutions. Indonesia's solid internet infrastructure and
growing mobile penetration rate will support the long-term
sustainable growth of online lending industry. The Indonesian
government has introduced clear and definitive regulations that
govern the industry and welcomes both foreign and domestic
investors. Hexindai believes that Indonesia's vast online lending market and
open regulatory environment present a significant growth
opportunity to invest in as its first step into overseas
markets.
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. The Company offers borrowers a wide range of products
designed based on customer segmentation data and tailored to the
specific needs of the emerging middle class in China by matching them with investors seeking
various types of investment products with appropriate risk levels
and risk-adjusted returns. Hexindai's strong online and offline
user acquisition capabilities combined with an online platform with
extensive offline networks, an advanced risk management system, and
strong strategic cooperative relationships with a custodian bank
and an insurance company to safeguard investments, allows the
Company to generate higher customer satisfaction, reliance, and
realize faster growth in China.
For more information, please visit ir.hexindai.com.
For investor inquiries, please contact:
Hexindai
Ms. Daisy Wang
Tel: +86-10-5380-6196
Email:
ir@hexindai.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10- 5900-1548
E-mail: carnell@christensenir.com
In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
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SOURCE Hexindai Inc.