P2P platforms turn to US markets for funds

Chinese online lenders are seeking growth opportunities and securing shares in the emerging peer-to-peer lending market by going public in the United States, according to industry experts.

Hexindai Inc became the first Chinese financial technology (fintech) company to list on the Nasdaq stock market last Friday. Priced at $10 per share, the IPO aims to raise $50 million. It was also the third Chinese fintech company that went public in the US this year.

"Going public means more financial support and industrial recognition," said Zhou Zhihan, general manager of Kaixin Financial, a P2P wealth management platform set up by China Development Bank.