China-based credit rating service Wecash has closed a $20m series B round led by SIG Ventures, a subsidiary of trading and technology firm Susquehanna International Group, China Money Network reported on Wednesday.
Founded in April 2014, Wecash operates an online service that rates credit using big data analytics, and which had 8 million users as of January this year. The investment values Wecash at $100m, according to Chinese media reports.
Wecash received $6.6m in series A funding from IDG Capital, an investment vehicle of technology research and media company International Data Group, in July 2014.
– Image courtesy of Wecash