China Rapid Finance, which operates an online consumer lending marketplace, has filed for IPO on the New York Stock Exchange to raise up to US$100 million.

The company has been using an automated system to assess and price credit risk of borrowers since 2014. Apart from traditional data points from the credit reporting platforms including China’s central bank, credit bureaus and data vendors, the company also sources unstructured historical behavioral and transactional data of borrowers from online services including social networks, online travel agencies, e-commerce platforms and payment service providers. It also acquires borrowers from those online platforms.

Before the launch of the online platform in 2010, the company had helped Chinese financial institutions, including Bank of China and China Construction Bank, create credit solutions since 2001, according to the company.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com