IceKredit, a risk management platform based on big data and artificial intelligence, has landed a $25m investment.
The Pre-B capital financing was led by YOOZOO Network, followed by YongRui Investment and other previously participating investment companies. Before this, IceKredit received funding from several leading global Investors, including FreeS Captial, Yunqi Captial, China Creation Ventures, Lingfeng Capital and many others. With the new capital onboard, IceKredit has raised over $50m within less than 3 years.
IceKredit has established offices in Los Angeles, Shanghai, Nanjing, Singapore and six other cities globally. In the U.S., IceKredit particularly targets the sub-prime market, 15% of the entire US population who are not covered by FICO and related credit bureaus. Its technology helps lenders provide these individuals with the financial resources that they deserve, at a relatively low rate.
Its products include an SMEs credit evaluation system and an individual credit assessment system, which consists of an anti-fraud engine, personal credit portrait and missing customer contact information restoration.
IceKredit has also developed a public sentiment system that utilides artificial intelligence algorithms to analyde online platforms such as social media and internet news. In doing so, IceKredit can generate a public sentiment score that helps to monitor SMEs.
The company also integrates Knowledge Graph and Graph Database into its enterprise loan guarantee relationship network, which enables in-depth analysis that helps to produce risk warnings in advance.
Through Transfer Learning, IceKredit claims to make it possible to effectively and conveniently train and develop models between different SME fields. Owner’s credit assessment is one of the four major parts of SME credit assessment, and IceKredit has claims to have significantly improved the efficiency and precision in this aspect with its own solutions. With only three required elements (name, phone number and ID number), IceKredit claims it can immediately make an accurate risk decision.
Currently, IceKredit has over 1000 paying clients and has established deep partnerships with dozens of leading financial companies and banks in China. In the US market, IceKredit has also begun strategic collaboration with several Native American tribes and large financial institutions.
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