IceKredit closes $35m Series C2 funding round

Risk management platform IceKredit has closed $35m in its Series C2 funding round, which comes hot off the heels of its initial tranche of funding.

The RegTech company previously raised $33m in its Series C1 funding in November 2020. Backers included Guoxin Venture, Guohe Capital, Yunqi Partners and China Creation Ventures.

It is unclear what firms invested into the Series C2.

CVCapital served as the exclusive investment adviser for the funding round.

With the fresh equity, IceKredit hopes to increase the size of its R&D team, merge upstream and downstream flow, and improve its ecological construction and business layout.

The company, which leverages AI, offers personal risk management, enterprise risk management, intelligent decision engine and intelligent customer acquisition. Banks, insurance firms, consumer finance companies and others, use the platform to improve their risk management and reduce costs.

It claims it has full coverage of the top financial institutions and is cooperating with hundreds of companies around the world.

IceKredit founder and CEO Lingyun Gu said, “IceKredit completing two rounds of funding within six months during the COVID-19 pandemic indicates that the tech-driven companies are receiving more attentions that other verticals from the investors.

“Both primary market and secondary market have realized the great potential and value of companies like IceKredit that are driven by algorithms and technologies as opposed to purely data element driven, making IceKredit stand out among competitions for investors.”

The company also raised $47m in its pre-Series C round back in 2019. Investors included Yunqi Partners.

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