Alibaba Microfinance Company Enters Liquidation After Completing Its Mission

On February 23, Tinydeals reported that Zhejiang Alibaba Microfinance Co., Ltd. (Ali Microfinance) has entered the liquidation and cancellation process. The National Enterprise Credit Information Publicity System disclosed the filing information, confirming that the Alibaba Microfinance Company has completed its mission. All its operations have now transferred to MYbank.

Ali Microfinance’s Impact on E-Commerce Financing

Alibaba Microfinance Company was established in March 2010. It was China’s first financial institution dedicated to providing microfinance services to e-commerce merchants. The company emerged with support from Alibaba Group and other external shareholders, receiving approval from the Hangzhou Municipal Administration for Industry and Commerce. At that time, traditional financial institutions struggled to support the growing e-commerce market. Ali Microfinance filled this gap by offering essential financial services to e-commerce platform merchants.

The Transition to MYbank

MYbank, which was approved for establishment in 2015, gradually took over all of Ali Microfinance’s operating loan business. MYbank’s technological advancements have made small and micro-loans more accessible across China. It introduced the “310” loan model, which simplified the loan process. Initially serving online merchants, MYbank expanded its services to offline small businesses. Over the years, it has provided digital credit services to over 50 million small and micro-business operators.

Ali Microfinance’s Mission Completed

In recent years, Ali Microfinance has ceased operations, which made its liquidation a formal step rather than a disruptive event. This action marks the completion of the company’s mission: addressing the financing needs of small and medium-sized e-commerce businesses. With MYbank fully taking over its operations, Ali Microfinance no longer plays a role in the market. Regulatory guidance has led the company to exit the business stage, symbolizing the end of its journey.

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