EurAsia Fintech AB is the leading online platform for used automobile financing in China. Our company connects Chinese car owners with financial institutions to refinance their vehicles. EurAsia Fintech’s efficient platform saves both the car owners and the lending institutions time and money. We make it a convenient and seamless experience for both parties.
Our management team has over 15 years of operating experience in the automotive loan industry. Our R&D expenditure for improvements in our platforms increases every year along with our revenues. We have the unique ability to customize our services to provide one-on-one solutions to meet our clients‘ individual requirements.
Given the increasing number of cars in third and fourth tier Chinese cities, the demand for car loans is increasing, which has driven the development of the car mortgage loan industry. The financial technology we bring to the market has promoted the growth of EurAsia’s business and simplified transactions.
In addition to the used car lending business EurAsia is pursuing acquisitions of local companies in related businesses and looking towards developing car insurance and equipment leasing products.
With more than 290 million cars registered, China has become the largest global market for automobiles. Used car transactions have increased from less than five million units in 2012 to more than 14 million in 2020. The automotive financing market is estimated to grow from 1.2 trillion CNY in 2021 to more than 1.6 trillion CNY in 2027.
The equipment leasing is a multibillion-dollar market in China. With approximately 25% of the global construction machinery leasing market, China is home to the world's largest construction leasing industry valued at more than 40 billion US dollars. It is predicted that China's equipment leasing transactions will increase to more than 13 trillion CNY in 2026, due to in part the Chinese Belt & Road Initiative. An estimated 12,000 Chinese leasing companies are seeking new customers. EurAsia's value proposition offers a better solution for customer acquisitions.
The car insurance industry is not only a product itself, but is also one of the fundamental foundations for the future development of insurance companies in China.
During the first quarter of 2023, the revenue for car insurance is about 208.7 billion CNY, a year-on-year increase of 6.21%. The number of motor vehicle insurance policies in China increased from 497.38 million cars in 2019 to 591.99 million cars in 2022.
According to statistics, a total of 63 out of 84 property insurance companies that disclosed data in 2022 conducted car insurance business.
