Dowsure, a Shenzhen, China-based fintech startup, raised $20M in Series B funding.
The round was led by an undisclosed global top-tier strategic investor, and followed by VenturesLab, Qianhaiyifang, and existing investor Plug & Play China.
The company intends to use the funds to accelerate growth, and expand operations.
Dowsure is providing unified lending experiences for cross platform sellers, including Amazon, eBay, Shopee, Lazada and DTC sellers from Shopify.
As Amazon’s lending service provider, Dowsure has built its proprietary assessment model for marketplace store owners, with the data API connectivity and account locking features, Dowsure has worked with dozens of Chinese banks in enabling pure credit loan based on store data with no collaterals, as technology and data provider. With 8 months in operations for lending tech business, the company has facilitated more than CNY 35 billion in GMV for Chinese sellers on Amazon platform.
Dowsure’s assessment model and algorithm can also be implemented in other digital assets which have continual online cash flow, but are still considered underbanked by traditional financial institutions.