In a bid to ease its cash strain, Chinese bike rental firm ofo has entered into partnerships with nine online loan platforms, allowing them to acquire more users by listing their services within its app.

The company has been setting ups deals with lenders including Wanda Puhui, Xiaoheiyu, Daishangqian, and Xiaobai Laihua since the summer. As part of its agreements, the bike rental firm has granted these platforms access to its users by displaying promotional content within the app’s “Wallet.”

Partnerships with online loan platforms are a double-edged sword for the firm. While they bring in much-needed cash, the tie-ups also bring trouble for endorsing players in the country’s online lending sector, which has a tainted reputation for scams and fraud.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.