Anti-fraud and risk management tech startup IceKredit has raised $33m in a Series C1 round.
Guoxin Venture Investment led the raise. Guohe Capital, Yunqi Partners, and China Creation Ventures also participated.
IceKredit will use the cash injection fund further expansion of its development team, investments and acquisitions, and improving its business ecosystem.
Founded in 2015 by its curren chairman Lingyun Gu, IceKredit is an AI powered platform providing comprehensive risk mitigation solutions to individuals and financial institutions. Leveraging artificial intelligence, the scaleup solutions is said to enable these organisations to make better anti-fraud and improved credit decisions.
In the future, IceKredit plans to expand its business into more industries such as insurance, trusts, and funds.
“IceKredit is an extraordinary company that has top-notch technologies and is excellent at producing solutions that meet real-world business needs. We believe that IceKredit will become a leader in the AI space,” Vincent Song, an executive director of Guohe Capital.
Michael Mao, co-founder of Yunqi Partners, added, “As a leading FinTech, IceKredit was one of the fintechs Yunqi decided to invest in when Yunqi was founded. I met Dr. Gu before he founded IceKredit.
“We had countless discussions about the future of financial technology, and I agreed with Dr. Gu on his unique understanding about combining financial services with technology. So it was not surprising at all that I became IceKredit’s angel investor.
“Despite the increasingly changing environment in the internet finance industry, IceKredit always sticks to their principles. There have been a lot of changes on the finance regulation, so we believe IceKredit will grow exponentially in the coming years.”
IceKredit raised $47m in a pre-Series C round in September 2019.
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