IceKredit Inc., a Shanghai, China-based provider of a credit assessment platform, raised US$16m in series A funding.
The round was led by China Creation Ventures with participation from Lingfeng Capital.
The company intends to use the funds to expand the team and its user base.
Founded in 2015 by Dr. Gu Lingyun, CEO, IceKredit is a fintech company that applies machine learning algorithms and big data related technologies to enable credit evaluations for individuals and SMEs in China.
Registered in Shanghai Free Trade Zone, the company is located in Lujiazui Financial District, with branches in Nanjing, Changzhou, Chengdu and Los Angeles, U.S.A. Upon its inception, IceKredit was funded with more than 160 million yuan by venture capital firms such as FreeS Capital, Yunqi Partners and Wei Lie Capital.