It is a P2P lending platform. Wolaidai first launched the online lending platform Welend.hk in Hong Kong in 2013. The cut-off application amount exceeded HK$1 billion, and the bad debt rate was lower than that of banks. It entered the domestic Internet financial market in the second half of 2014, and in September launched the mobile application "Wo Lai Dai" specifically for young people, especially college students, providing small loans ranging from 300 to 2,000 yuan to qualified applicants. Wolaidai has completed US$20 million in Series A financing. Investors include Yuri Milner, founder of Russian investment institution DST, ICONIQ Capital backed by Internet business leaders in Silicon Valley, and strategic investors China Post and TOM Group Its subsidiary Youle.com, as well as Sequoia Capital and TOM Group announced earlier.