FIBA signs new sponsor for 2019 FIBA Basketball World Cup

FIBA has signed the Shanghai-based Chinese peer-to-peer lending company, Madai Wealth (Chinese pinyin: Madai Caifu) as a new sponsor for the 2019 FIBA Basketball World Cup. 

The new partnership was announced on December 8 during the brand’s 5th anniversary ceremony which took place at the Waldorf Astoria Shanghai On the Bund. Fang Liang, Senior Manager of Media and Marketing FIBA China, Annie Zhao, Managing Director of Infront China, Wei Kun, CEO of Madai Wealth and other representatives attended the event. 

Madai Wealth is operated by Shanghai Kaian Information and Technology Co., Ltd. whose shareholders include Beijing CITIC Investment Center. A major share holder of Madai Wealth is CITICPE, a private equity that belongs to China CITIC Group. 

Madai Wealth will organize activities for their 3.29 million users around the FIBA Basketball World Cup. 

Reference: Madai Wealth 

Proofread by Raymond Fitzpatrick