Online lending attracted new players that bet on a digital approach allowing them to lend profitably to entities that did not appeal to banks. Photo: AFPOnline lending attracted new players that bet on a digital approach allowing them to lend profitably to entities that did not appeal to banks. Photo: AFP
Online lending attracted new players that bet on a digital approach allowing them to lend profitably to entities that did not appeal to banks. Photo: AFP

How coronavirus pandemic has derailed Asia’s booming online lending industry, much of it backed by Chinese money

  • In India there are nearly 500 online lending start-ups, and roughly 160 in Indonesia
  • But as economies across Asia went into lockdown to limit the spread of the new coronavirus, many borrowers defaulted
Topic |   Ecommerce
Online lending attracted new players that bet on a digital approach allowing them to lend profitably to entities that did not appeal to banks. Photo: AFPOnline lending attracted new players that bet on a digital approach allowing them to lend profitably to entities that did not appeal to banks. Photo: AFP
Online lending attracted new players that bet on a digital approach allowing them to lend profitably to entities that did not appeal to banks. Photo: AFP
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