China-based FraudMetrix, a financial control and anti-fraud service provider, has raised $10m in a second tranche of a series A round that featured IDG Capital Partners, a corporate venturing subsidiary of media group IDG, China Money Network reported yesterday.
CBC Capital, a multi-corporate venture fund, led the round, which also included venture capital firm Linear Venture.
FraudMetrix provides network risks and anti-fraud services to almost 100 clients. The funding will be allocated to product innovation, marketing expansion and human resources development.
The company raised $1.6m in its first phase of series A funding from IDG Capital and China Growth Capital in November 2013.