Fang Yuhan's actions were very efficient, and he made an appointment with someone from Weizhong Tax Bank Company within two days.

There are three people who came, namely Chairman Zhao Yanhui, CEO Geng Xinwei, and Chief Risk Officer CRO Xu Wei.

In the chairman's office of Ruimin Wealth Management, Zhang Yida met with the three people.

Xu Wei, the youngest of the three, is also nearly forty years old, and the other two are in their forties.

It is said that it is middle-aged and elderly, but it is only for an Internet entrepreneurial team in their twenties and thirties.

Men in their forties are the golden age of entrepreneurship, with connections, capital, and patience.

After some greetings, Zhang Yida learned that the company, which was founded in September 2014, has completed two rounds of financing: angel round and A round.

Among them, the A round of financing was led by IDG, with an amount of 20 million yuan.

After asking the company administration to make tea for the three of them, Zhang Yida said with a smile: "I'll just say it directly! The main reason for inviting the three of them here is to talk about Ruimin Finance's acquisition of Weizhong Tax Bank." ”

Zhang Yida saw that the expressions of the three of them did not fluctuate much after hearing this, and guessed that Fang Yuhan had already been vaccinated.

In fact, it is.

After Zhao Yanhui received Fang Yuhan's call, he was a little surprised when he heard that Zhang Yida had made an appointment to see him.

He and Zhang Yida have never known each other in their lives, what are they doing when they meet him?

In this case, it is inevitable to ask a few more questions.

Fang Yuhan didn't hide it, and said generously that Zhang Yida wanted to buy their company.

Zhang Yida fell in love with his company?

After discussing with the other two founders for a while, Zhao Yanhui decided to meet Zhang Yida and listen to his conditions.

Zhang Yida continued: "It is difficult and expensive for small and micro enterprises to obtain financing, which has always been a difficult and painful point in society.

Ruimin Wealth Management also entered the field of corporate loans with the original intention of solving this problem.

However, risk control in the field of corporate loans has always been a difficult point. As a corporate credit reporting and big data analysis company, Wezhong Tax Bank has entered our sight in this way.

I also know a little bit about your company, and I feel very admired.

only completed the A round of financing of 20 million, but he was reluctant to move into a Grade A office building to work, and he still kept working in the old office. ”

Xu Yanhui said with a smile: "Although 20 million Series A financing has been completed, this amount is not large at all.

In the field of mutual finance, companies that have raised hundreds of millions, or even billions or tens of billions of dollars, abound.

For example, Ruixiang, wasn't the last round of financing $2.5 billion?

In this industry, we are just toddlers.

Coupled with the fact that people are middle-aged, they have long passed the age of being in the limelight and loving face, and we believe that every penny of financing must be spent on the cutting edge. ”

Zhang Yida laughed, he is indeed much more mature and stable than young entrepreneurs.

"I have learned about Weizhong Tax Bank, you only provide the bank with enterprise big data credit report, why don't you do your own lending?"

Geng Xinwei, CEO of WeBank, replied: "Before the company establishes an absolute advantage in the field of enterprise big data credit, it will not blindly expand and engage in diversified development.

We believe that only by focusing on one thing can we do it to the extreme. ”

Zhang Yida nodded, it is indeed very pragmatic, it should have been beaten by entrepreneurship when he was young, and his goal will be so clear and firm.

"Ruimin Wealth Management has its own stable financing channels, and now we want to cut into the field of small and micro enterprise loans, I would like to ask how we can integrate "finance, technology, and taxation" into one and give full play to their power?"

The three of them knew that this was a test of themselves and others, Zhao Yanhui smiled: "Let Xu Wei answer this question!"

I am a simple technical person, and Lao Geng has been working in a bank.

He received his Ph.D. from the Massachusetts Institute of Technology (MIT) and served as Vice President of Quantitative Analysis at Wells Fargo and Risk Officer at First International Capital Modeling. ”

"Oh, really?"

Zhang Yida said with a smile: "There are many talents in our company who have returned to China to join Capitalone, such as Chen Shaojie, CEO of Yimin Loan, and they are all from First International Capital.

Now half of the domestic mutual finance is supported by the First International Gangster.

Chen Xi, CRO of Rice Finance, Yu Quan, CRO of MYbank, Pan Yiting, CRO of Yiyin Loan, Zhang Feng, COO of Paipai Loan, and Yao Zhiping, Deputy General Manager of Lufax......

First International Capital is a monument that cannot be avoided in the history of consumer finance in the world.

I heard that the headhunters sent out by the domestic mutual finance company hollowed out all the Chinese in the First International Capital.

The most outrageous thing I have ever heard is that a person worked as an intern at CapitalOne for a month, and after returning to China, he became the chief risk officer of a financial company, and as a result, the company's valuation rose by 100 million. ”

Xu Wei smiled and shook his head, both deeply proud of Zhang Yida's praise and worried about the irrational prosperity of the domestic mutual finance industry.

"Compared with the red ocean of domestic C-end consumer finance, I prefer the less noisy B-end financial technology. ”

Zhang Yida looked at Xu Wei and asked, "Mr. Xu's argument is still novel, do you think there are more opportunities on the B-side?"

"There may not be so many opportunities, and the market may not be so big. But it is more suitable for long-term development, because it is harder to make money on the B-side, and more people lack such patience and prefer to make quick money on the C-side. ”

Xu Wei looked at Zhang Yida and said, "Of course, I don't mean any accusations here, everyone's choice is different."

The B-side is still a blue ocean, and there is a certain threshold for entry, so you can quietly engage in R&D and lay the foundation. ”

China does not have a B-end Internet giant, and it really feels incredible.

Zhang Yida believes that sooner or later such a company will emerge, of course, it is likely to be hatched in Ahri and penguins.

Without him, the roots are too deep. Ahri is even more likely, because DingTalk is much better than WeChat.

After making a fuss, Xu Wei began to return to the topic, he said: "Then I will briefly talk about my views on small and micro enterprise loans, and ask Mr. Zhang for forgiveness." ”

"Mr. Xu is humble, and please give advice. ”

Xu Wei continued: "The use of tax-related data in the lending sector is a Chinese innovation.

After China's tax reform according to its national conditions, the value of tax-related data has increased significantly, which is a very big opportunity for China's financial industry, which can directly enter the era of data and overtake in the international curve.

The corresponding data is retrieved through the special line interface of the tax bureau for cleaning and analysis, and a visual report is formed through the model, and the enterprise is scored.

Financial institutions can lend to businesses based on this information.

In this process, a more realistic way is to realize automation, using "manual + machine" learning to give financial institutions an additional tool to improve loan efficiency.

In the process of in-depth data modeling, we found that MSMEs have more unique data characteristics today.

For example, for Internet companies, they do not have factories, office buildings, and a large number of equipment.

Therefore, when setting the weights that affect their credit, it will be very different from traditional enterprises.

At the same time, we also come to the conclusion that different models must be built for different industries, which can make the impact factor have stronger industry attributes.

Small and micro enterprises tend to have higher overheads financially if they are operating very well, so that the daily expenses increase, and the business will reduce the profit on the books.

Therefore, the proportion of management fees of small and micro enterprises, which will not be covered by traditional financial analysis, has also become an important reference for reflecting the operation of enterprises.

These are very different from the traditional application of enterprise debt-to-asset ratio and other evaluation criteria. ”

Zhang Yida glanced at Xu Wei appreciatively, worthy of being an expert, it seems that Weizhong Tax Bank has indeed found some doorways in the field of tax loans.

To buy, be sure to buy this company.

"In addition to tax-related data, small and micro enterprise loans can also be included in other enterprise operation data as a reference, right?"

Faced with Zhang Yida's question, Xu Wei's answer was: "Of course!

The basic information, tax information, business information, financial information, upstream and downstream information, and violation inspection of the enterprise can all be included in the risk control model, multi-dimensional analysis, portrait and score for enterprise users, and form the ultimate business value. ”

Zhang Yida asked again: "These methods are all applied to the pre-loan stage, do you have any good solutions for the loan and the post-loan?"

Xu Wei frowned and said, "At present, Wezhong Tax Bank mainly provides banks with pre-loan risk control technical support.

In the case of in-loan and post-loan, it is necessary to cooperate with CRM, ERP and other systems involving the business management level.

In addition, changes in industrial and commercial information, judicial penalties, and fluctuations in tax payments can also be used to monitor enterprises to a certain extent. ”

"In the case of CRM, we don't have any external products for the time being, except for the internal office.

However, Ruixiang's Mobao Payment, in cooperation with the Smart Finance Research Institute, has been carrying out data analysis of the cashier flow of individual industrial and commercial households.

At present, there are also some achievements, and in the future, merchant loans will be opened to tens of millions of merchants paid by Mobao. ”

Xu Wei's eyes lit up, he had heard that Ruixiang's financial technology was very good, but he didn't expect to start getting involved in the B-side.

"There are 62 million individual businesses and more than 20 million small and micro enterprises in our country.

Compared with small and micro enterprises, the difficulty of risk control for individual industrial and commercial households is simply hellish.

They don't have tax data, only cashiers. ”

Speaking of this, Xu Wei said with emotion: "In China, only penguins, leech financial services, and Ruixiang can conduct big data risk control assessment for these individual industrial and commercial households. ”

Zhang Yida said: "Compared with the two of them, Ruixiang's current data sources are still a lot less. After a few years, we should be able to catch up with them. ”

Xu Wei guessed that Zhang Yida had some killer features? However, Zhang Yida did not discuss in detail, and it was inconvenient for him to ask. Although the curiosity is strong, I can only force it.

"Ruimin Wealth Management is very determined to enter the small and micro enterprise loan, and on the capital side, we have the flow entrance of Huimin travel, and there is no shortage of lending funds.

The only thing lacking is the risk control ability of B-end enterprises. ”

Zhang Yida waved his hand again, "But it doesn't matter, not to mention the field of tax and banking, Ruimin Wealth Management will also consider investing in mergers and acquisitions of enterprise inquiry websites, SaaS software or CRM software in various sub-industries."

Ruimin Wealth Management will definitely not only be P2P in the future, and even the proportion of revenue accounted for by financial business is only a small part.

What we want to do is China's Experian, with corporate credit as the core, derivative finance, software, marketing and other services. ”

Xu Wei and the three are no strangers to Experian, a world-class corporate credit giant with an annual market value of tens of billions of dollars and tens of thousands of employees.

"Join Swiss Finance! Maybe it's time to change your name, it's called ...... Ruixin Group.

Wisdom, wisdom, wisdom, trust, trust, trust.

That's the name!"

After changing the name of the company, Zhang Yida looked at the three of them again and said: "Ruixin Group can provide you with a broader stage based on the current foundation.

In the future, I can even follow my other industries to go overseas and compete with international credit giants.

As for WeTax, I can also acquire it at a 20% premium based on the valuation of your Series A financing.

Cash or equity in Ruixin Group is fine, what do the three of you think?"

Xu Wei was a little tempted, he gave up the invitation of many unicorn C-end consumer finance companies to join Weizhong Tax Bank, which had only only A round of financing, and what he wanted was to show his ambitions in the B-end financial technology field.

Zhang Yida can undoubtedly give him a broader stage, and he is a high-quality refuge object.

Zhao Yanhui and Geng Xinwei, as the founders, hold the most shares of the company, and it is inevitable that they will hesitate to sell the company suddenly.

The purchase price provided by Zhang Yida is actually average, which is only a 20% premium to the valuation of the A round of financing a few months ago.

The two of them are mainly thinking about their own gains and losses from entrepreneurs to professional managers.

"Mr. Zhang, Ruimin Wealth Management has been valued at 1 billion US dollars, and the valuation of our Weizhong Tax Bank is only 200 million yuan.

After deducting the venture capital, the two of us can barely occupy 1%. As for Lao Xu, he doesn't even have a 1% stake. ”

Zhao Yanhui used to be a teacher at the National University of Defense Technology, and he was born in the military, but his personality is still relatively decisive, and he directly raised his concerns.

It turned out that there were too few shares, and this issue was easy to discuss. Zhang Yida said with a smile: "Ruimin Wealth Management has a 10% option pool, and there is 8.1% after two rounds of financing.

At present, 2% has been distributed, and after you join, you can also get options.

In addition, depending on the development situation in the future, I will discuss with shareholders to supplement the option pool. ”

"Okay, then, can we choose to buy half of the equity and half of the cash?" Geng Xinwei asked.

"Yes!" Zhang Yida's answer was simple, but sonorous.

Geng Xinwei looked at the two colleagues a few times, and then said: "Then we have to discuss with IDG and other institutional shareholders before we can make a final decision." ”

"Well, IDG's side can choose to exchange shares, or withdraw with all cash, you can bring my words to them. ”

The three of them all nodded, and after a cordial conversation with Zhang Yida, they left satisfied.