“Can Xiaomi convert its dominant hardware ecosystem and 500M+ active user base into a full-stack financial services platform spanning consumer lending, supply chain finance, and embedded payments across global markets?”
Founded in 2010 as a smartphone company with an online flash-sale model, Xiaomi rapidly expanded into IoT and smart home hardware to build an ecosystem play. Starting in 2015, Xiaomi aggressively built out financial services (Xiaomi Finance) leveraging its vast user base and supply chain relationships, spanning consumer lending, mobile payments, and supply chain finance. By 2020, it had secured a licensed consumer finance entity in China (Chongqing Xiaomi Consumer Finance), while internationally it partners with third-party payment processors and fintech companies to extend embedded finance into device financing and digital payments.
Xiaomi processes payments through Checkout.com.
Xiaomi uses Citi Treasury & Trade Solutions for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 3 layers in Xiaomi's stack: Payments / PSP (Checkout.com); Lending (Xiaomi Easy Finance (consumer device financing, India, via Axio), Xiaomi Consumer Finance personal loans up to ¥200,000 (China, in-house), Supply chain finance ABS ¥10B shelf (China, in-house), Accounts receivable factoring for suppliers and 1 other); FX & payouts (Citi Treasury & Trade Solutions).
Xiaomi was founded by Lei Jun and is founded in 2010, headquartered in Beijing, China.
Xiaomi has raised ~$1.5B+ pre-IPO in total (latest round: Post-IPO Equity (HKEX: 1810, IPO July 2018); valuation: $70-80B at IPO (2018)).
Get a read on where your own stack stands against Xiaomi and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.