Pintec Technology Holdings Ltd. and Fullerton Credit entered into a memorandum of understanding to expand digital lending offerings in China.
Under the agreement, Pintec, a technology platform enabling financial services in China, will develop digital lending products and services under various online consumer scenarios for Fullerton Credit. It will also provide technical support to connect Fullerton Credit with small and micro-sized enterprises and individual customers.
Fullerton Credit is a group of micro-credit companies and provides operating and consumer loans to individuals, micro businesses and small and midsize enterprises. It is wholly owned by Fullerton Financial Holdings Pte. Ltd., which in turn is a unit of Singapore sovereign wealth fund Temasek Holdings (Pte.) Ltd.