IceKredit, a China-based creator of financial risk management software, raised almost $25m yesterday in a pre-series B round led by game producer Youzu Interactive.
YongRui Investment and existing investors including Frees Capital, Yunqi Capital, China Creation Ventures, Lingfeng Capital also took part in the round, which increased the company’s overall funding to more than $50m.
IceKredit has developed a risk management platform that utilises big data and artificial intelligence to assess a user’s credit. It has 10 offices around the world, including branches in Singapore, Shanghai and Nanjing in China, and Los Angeles in the US.
The company’s products include a tool that uses artificial intelligence algorithms to create what it calls a public sentiment score by analysing online platforms like internet news or social media. It has more than 1,000 paying subscribers for its system.
China Creation Ventures had previously led IceKredit’s $16m series A round in April 2017, after Yunqi Partners, Frees Fund and Will Hunting Capital had provided angel funding.