IceKredit raises $35 mn with Guochuang Zhongding as Lead-investor
By Leandra Monteiro
IceKredit Inc. has recently raised $35 million in Series C2 funding sponsored by Guochuang Zhongding as lead-investor and with Oriental Fortune Capital and Ally Capital as co-investor. CVCapital was the exclusive investment adviser.
By the end of 2020, IceKredit has completed Series C1 and Series C2 funding, which completed the round of Series C funding. This funding is going to be used to expand the R&D team, merge upstream and downstream flow, and improve the company’s ecological construction and business layout.
Counting on the core technology of artificial intelligence, IceKredit provides personal risk management, enterprise risk management, intelligent decision engine, and intelligent customer acquisition as well as full-process solutions for banks, consumer finance companies, insurance and other financial institutions.
On the basis of the financial industry services provider, IceKredit continues to expand the applications of artificial intelligence, transform the core technologies into products which fit different scenes, and promote the application of artificial intelligence in industries such as finance, medical care, government affairs, and security.
IceKredit has won long-term orders from many licensed financial institutions by accumulated modelling experience and understanding of the industry. To date, the company has achieved full coverage of top financial institutions and has been cooperating with hundreds of companies globally. It’s clients include many regional banks, community banks and credit unions. In recent years, the company has also entered Southeast Asia market and has in-depth cooperation with Singapore’s OCBC Wing Hang Bank, Thailand’s Siam Commercial Bank, etc.
With multiple rounds of financing, IceKredit has been developed from its artificial intelligence applications in the financial industry. It started from corporate services and has been continuously expanding service boundaries to multiple industries such as medical care, government affairs, and security.
“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,” said Lingyun Gu, founder & CEO of IceKredit. “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.”
Yifeng Jiang, MD at Guochuang Zhongding, has the same perspective about IceKredit. He said, “FinTechs that leverage top-notch and cutting-edge technologies have always been our focus. As an AI-powered fintech company, IceKredit has helped companies in various verticals mitigate risks by providing their proprietary algorithms and AI techniques in the past few years. IceKredit has invested heavily into research and development and been able to provide services to both financial institutions and other industries including medical institutions, government projects, and public security.”
Co-founder of Oriental Fortune Capital, Liwei Chen said, “Instead of simply being a data aggregator, IceKredit has been focusing on empowering finance by AI since it was founded. It’s modeling capabilities and knowledge of the industries is how they achieved this goal. We invested in IceKredit primarily because we believe how IceKredit seamlessly integrates their technologies with the specific use cases in different industries which can constantly boost its revenue in the long run. IceKredit definitely has a very bright and promising future.”
Xiaoli Huang, co-founder of Ally Capital said, “IceKredit’s AI technologies have been utilized beyond the finance vertical into other industries, helping more and more companies grow with higher returns and lower risks. IceKredit is becoming a leading force in the digital economy.”
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