IceKredit, a China-based credit rating services provider backed by video game developer Youzu Interactive, has raised RMB228m ($34.8m) in series C2 funding, DealStreetAsia has reported.
The round was led by China Development Bank Capital’s CDB-CDC Capital vehicle and includes Oriental Fortune Capital and Ally Capital. It follows a strategic investment of undisclosed size by CDB-CDC Capital in late 2020.
Founded in 2015, IceKredit uses machine learning, artificial intelligence and big data technology to provide credit check and risk management software for financial services companies.
The company’s clients include payment services provider UnionPay and personal finance management app developer Wacai.
IceKredit received $33m to close a series C round led by Guoxin Venture Investment in November 2020. It also featured Guohe Capital, Yunqi Partners and China Creation Ventures.
Guohe Capital had led the company’s $47m pre-series C round in September 2019, with participation from Yunqi Partners and undisclosed existing investors.
IceKredit secured $25m of pre-series B financing in a 2018 round led by Youzu Interactive, which invested alongside Yunqi Partners, YongRui Investment, Frees Capital, China Creation Ventures and Lingfeng Capital. It said it had raised $44m of funding across its angel, pre-series A, series A and series B rounds.