Located in a special economic zone, Shenzhen is known as the “Silicon Valley of China.” The city ranks first in China in terms of the volume of patent fillings and is also the heart of the Internet of Things manufacturing, according to Deloitte.

With full support from the public sector, a large unbanked population, and the lack of financial infrastructure, Shenzhen’s fintech sector has experienced significant growth and the city is now being recognized as one of China’s leading hubs for financial innovation.

In light of Shenzhen’s rising fintech sector, we look today at some of the top fintech startups there you must be keeping an eye on.

Tenpay

Launched in September 2005, Tenpay is a third party payment platform owned by Tencent Group. It offers an online payment system similar to PayPal that supports B2B, B2C, and C2C payments.

In some Chinese cities individuals can use Tenpay for utility payments and to refill their public transport cards. Co-branded credit cards are available, and credit card bills can be paid using the service. Offline recharging of a Tenpay account is also possible.

WeBank

WeBank is China’s first digital-only bank. The company operates several products including Credit Particles, the WeBank mobile application, WeCar Credit, and We Zhong Financial Management. These brands cover various areas of financial services including personal credit and financial management.

WeBank was granted a banking license in late-2014. Key investors in WeBank include Tencent, BYY Investment and Li Ye Group.

Shenzhen JFZ Capital Management (JFZ)

Founded in 2012, Shenzhen JFZ Capital Management (JFK) is an Internet wealth management company that provides services for high net worth individuals.

The company follows market developments to find investments opportunities across different products and asset classes including private equity, merger and acquisition, private placement and close-end and open-end funds.

Shenzhen Suishou Technology

Founded in 2011, Shenzhen Suishou Technology is a mobile finance software subsidiary of Chinese enterprise management software developer Kingdee International Software Group.

The firm has five main platforms for its services covering areas such as wealth management, consumer loans, credit card applications, securities trading and insurance.

Shenzhen Suishou Technology’s core products include mobile personal finance app Suishou Ji, and mobile credit card management app Cardniu, or Kaniu.

Shenzhen Wei Zhong Shui Yin Information Services (Wei Zhong Shui Yin)

Shenzhen Wei Zhong Shui Yin Information Services (Wei Zhong Shui Yin) uses Big Data to provide credit investigation and risk control services. The company processes and analyzes enterprise data related to taxation in order to help clients evaluate any potential credit risks. Its cloud-computing database covers most of China’s provinces as well as most major sectors.

Many banks currently use Wei Zhong Shui Yin’s services.

Touchouwang

Founded in 2015, Touchouwang is a real estate platform that offers domestic investment opportunities. The company aims to facilitate transactions by taking illiquid real estate properties and leases and converting them into tradeable, investable securities.

Touchouwang focuses on the less mature secondary market. For instance, after landlords acquire new real estate projects, their excess space such as an office floor or apartment can be securitized through Touchouwang’s online platform.

Linghui Technology

Linghui Technology is a financial services supermarket that offers various products such as mutual funds, private equity funds, stocks, bonds, currency funds, and insurance products.

Linghui serves small and mid-sized financial intermediaries with operational functions. It facilitates transaction processing, generating reports, information dissemination, risk management, compliance adherence, investment research, big data analysis, and client relationship management.

Viewtran Group

Viewtran Group, formerly Cogo, is a provider of supply chain financial services and enterprise solutions in China.

The company also sells medical and healthcare devices, energy saving equipment and complementary technology and engineering services in China.

Lin Bao You

Lin Bao You allows consumers to book packages online for international trips, including flights, hotels and sightseeing tours, and pay later in monthly installments.

According to the Asia Times, Lin Bao You is a collaboration with one of the country’s largest travel agents, Beijing-based China Comfort Travel Group (CCT). CCT is one of the investors in Lin Bao You, alongside venture capital firm Zhong Ye Xing Rong.