Biz / Tech

NY-listed Jianpu aims to become 'everyone's financial partner'

Zhu Shenshen
Innovative financial platform moves closer to profitability
Zhu Shenshen

Jianpu Technology reduced its net losses in the first six months, thanks to growing credit card recommendations and other big data business, the New York-listed firm said on Tuesday.

Jianpu is an independent online platform for discovery and recommendation of financial products in China whose clients include banks and other financial firms.

The net loss was 66.1 million yuan (US$9.6 million) in the first half, compared with a net loss of 118 million yuan a year ago. Revenue for the period increased by 23.1 percent to 1 billion yuan.

“We achieved continued growth in our credit card, big data and risk management services,” said David Ye, co-founder, chairman and chief executive of Jianpu, who admitted it was a “challenging and fast-changing industry.”

In the first half, Jianpu’s revenues for credit card recommendations increased by 21.6 percent to 371 million yuan. Big data and risk management services grew 139 percent year over year in the second quarter.

In the long term, Jianpu hopes to become “everyone’s financial partner," Ye said.

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