AAA Wiseco sees to $94m series A round

Wiseco sees to $94m series A round

Wiseco Technology, a China-based fintech developer backed by marketing consultancy iPinYou and financial electronics equipment supplier Santai Holding, has closed a RMB650m ($94m) series A round.

The round was co-led by Huading Capital and Sino-Ocean Group and included fellow investment firm Boya Capital Partners as well as venture capital firms China Growth Capital and Green Pine Capital Partners.

Founded in 2014, Wiseco Technology provides a range of big data products for the financial services industry covering areas such as credit scoring, financial data collection, analytics and consulting services.

The company’s products are aimed at financial services firms, financial technology providers, peer-to-peer lending platforms, e-commerce providers and retailers.

The funding will allow Wiseco to develop additional applications and support its research and development activities. It will also look to grow headcount.

Wiseco had previously received $14.5m in pre-series A funding from iPinYou, Santai Holding and private equity firm Huagai Capital in July 2018.

By Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.

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