SHANGHAI, April 19, 2021 /PRNewswire/ -- Sponsored by Guochuang Zhongding as lead-investor, Oriental Fortune Capital and Ally Capital as co-investor, IceKredit, Inc has recently acquired $35 million in Series C2 funding with CVCapital as 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 R&D team, merge upstream and downstream flow, and improve the company's ecological construction and business layout.
Relying on the core technology of artificial intelligence, IceKredit provides personal risk management, enterprise risk management, intelligent decision engine, and intelligent customer acquisition. They can provide full-process solutions for banks, consumer finance companies, insurance and other financial institutions, which realize risk management and cost reduction, accelerate the "intelligence+" upgrade, and digital transformation of the financial industry.
After 6 years, IceKredit has become a leading company in the artificial intelligence services provider industry, with an emphasis in risk management. At the same time, on the basis of 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.
Since its establishment, IceKredit has strived for the independent research and development of core technologies. Taking deep learning, knowledge graphs, natural language processing (NLP), federated learning and other artificial intelligence technologies as innovative breakthroughs. IceKredit has obtained 31 patents and another 34 patents pending. IceKredit has been awarded many honors such as CB Insights Global Fintech Top 250 for two consecutive times, KPMG China Leading Fintech Companies Top 50 for five consecutive years, Davos Forum China's Top 50 AI, and Forbes China's High-growth Gazelle Enterprises.
IceKredit has won long-term orders from many licensed financial institutions by accumulated modeling experience and deep understanding of the industry. To date, IceKredit has achieved full coverage of top financial institutions and has been cooperating with hundreds of companies globally. In the United States, IceKredit has been dedicated to providing service for subprime customers that have not been covered by FICO and other credit bureaus using AI technology, in order to help them get loans with relatively low interest rates. IceKredit's clients include many regional banks, community banks and credit unions. In recent year, IceKredit also entered Southeast Asia market and has in-depth cooperation with Singapore's OCBC Wing Hang Bank, Thailand's Siam Commercial Bank, etc. IceKredit's products are used more than 10 million times a day, helping millions of small and micro enterprises and long-tail consumers to have access to financial services.
With multiple rounds of financing, IceKredit has been developed from its artificial intelligence applications in the financial industry. IceKredit started from corporate services and has been continuously expanding service boundaries to multiple industries such as medical care, government affairs, and security. In the field of medical AI, IceKredit cooperated with a large leading hospital in Shanghai to explore intelligent diagnosis projects; in the field of government AI, IceKredit and multiple governments explored cooperation in risk monitoring and financing platform management projects; in the field of security AI, IceKredit cooperated with public security bureaus in central and western China on the intelligent AML project. As a technology-based company, IceKredit adheres to the pace of exploring the unknown, and creates comprehensive artificial intelligence solutions for multiple industries for future.
"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, thinks highly of IceKredit's strategic plans. "Instead of simply being a data aggregator, IceKredit has been focusing on empowering finance by AI since it was founded. IceKredit'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."
IceKredit's has its core competencies after years of hard work and constant improvement, as 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."