X Financial announces its investment in venture capital fund managed by Dragonfly Ventures II, LP

X Financial announces its investment in venture capital fund managed by Dragonfly Ventures II, LP

SHENZHEN, China, March 2, 2021 / PRNewswire / – X Financial (NYSE: XYF) (the “Company” or “we”), one of China’s leading technology-focused personal finance companies, announced today its commitment to invest an aggregate amount of US $ 10 million in a venture capital fund managed by Dragonfly Ventures II, LP (“Dragonfly”) for investment opportunities in the blockchain industry. Dragonfly is a blockchain industry focused venture capital fund with its long term investment strategy and research driven process. Dragonfly has invested in some of the major blockchain platforms including Maker, Compound, Celo, UMA, etc.

The Company believes that this investment may provide the opportunity to explore innovative technologies and the potential to improve long-term profitability, which is in line with the Company’s business strategies.

About X Financial

X Financial (NYSE: XYF) (the “Company”) is a leading technology-driven personal finance company in China focused on the huge demand for credit from individuals and small and medium-sized business owners. The company’s large owner, WinSAFE-driven risk control system, constructs the risk profiles of potential borrowers using a variety of data- a credit assessment methodology focused on the precise assessment of a borrower’s value, ability to pay, payment attitude and overall creditworthiness. X Financial has established a strategic partnership with ZhongAn Online P&C Insurance Co., Ltd. in several areas of its activity …

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