Understanding Consumer Fintech in China with Linda Jiang and Yi Luo

September 15, 2020 43 min

Consumer behavior in China has captivated the West for years, and behavior around fintech and payments is no different. Ant Group’s planned $200 billion upcoming IPO raises more questions than it answers in the minds of many in the West, who like me don’t have direct experience with super apps and ubiquitous QR code based payments.

We record a breakdown of Ant Group’s upcoming IPO last week with Max Friedrich and Lex Sokolin, which is under compliance review and will be released soon.

Today’s conversation brings unique perspective to the exploration of fintech in China, told through the eyes and anecdotes of two Chinese tech entrepreneurs.

Linda Jiang is a deep tech founder and serial entrepreneur. In 2010, she co-founded Umeng, a mobile analytics and developer platform that grew to support 180,000 apps and become the largest platform of its kind in China before selling to Alibaba in 2015. She is now an advisor to Baidu Ventures, an early stage deep tech focused fund backed by Baidu, one of China’s tech giants.

Yi Luo is the founding Chief Strategy Officer of FreeUp, a company unlocking daily salary payment for workers. In 2019, FreeUp was acquired by Greensill, and then rebranded as Earnd, where Yi now leads strategy and expansion. Yi is also a keen angel investor.

This conversation was recorded in February 2020, pre-COVID and before I relocated to New York, which may explain some of our references.

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Thank you very much for joining us today. Please welcome, Linda Jiang and Yi Luo.

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