A non-bank fintech lender controlled by Chinese organizations through a Nasdaq-listed Norwegian software firm shows the depth of the predatory loan app crisis.
Note: A day after we published this investigation into PC Financial, its predatory lending practices, its indirect Chinese ownership and control, and more, a representative for the company called and offered “support in the right way” if the story could be taken down. We are doing one better and making the story free to read. Sign up for a free account to read this very important story, and feel free to share it widely.
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I’m very confused how they are still operating. If you look at Twitter, their name comes up the most in terms of complaints and all. …
Arti is a former writer at The Morning Context. She previously worked with publications such as ET Prime, VCCircle, Firstpost and EETimes. Arti has keenly tracked the evolution of financial technology in India and written some of the defining pieces on the ecosystem as it birthed and matured. Even when not writing about it, she loves to dissect the revenue models, margins and regulations that are shaping the sector.
artisingh@mailtmc.com