IceKredit Inc., a Shangai, China-based risk management platform based on big data and artificial intelligence, raised nearly $25m in Series Pre-B capital financing round.
The round, which brings total funding to over $50m within less than 3 years, was led by Yoozoo Network (SZ. 002174), with participation from YongRui Investment and other investment firms. Before this, IceKredit received funding from FreeS Captial, Yunqi Captial, China Creation Ventures, Lingfeng Capital and others.
Led by Dr. Lingyun Gu, the founder, chairman, and CEO, IceKredit provides a risk management platform based on big data and artificial intelligence.
The company, which has established offices in Los Angeles, Shanghai, Nanjing, Singapore and six other cities globally, targets the sub-prime market in the U.S., 15% of the entire US population who are not covered by FICO and related credit bureaus.
With the latest technologies and accurate solutions, IceKredit lenders provide individuals with the financial resources that they deserve, at a relatively low rate. On the other hand, IceKredit has devoted substantial efforts to advancing enterprise credit assessment technologies and models.
Currently, the company has over 1000 paying clients and has established partnerships with dozens of leading financial companies and banks in China.