LOS ANGELES, Sept. 8, 2019 /PRNewswire/ -- Sponsored primarily by Guohe Capital, IceKredit, Inc. has recently acquired $47 million in pre-Series C funding, surpassing the cumulative amount of funding of $44 million generated from all previous funding rounds, which include Angel round, Pre-Series A, Series A, and Series B funding from Frees Fund, Yunqi Partners, China Creation Ventures (CCV), and Youzu Interactive, among others. Moreover, a current stockholder, Yunqi Partners, has become a dedicated sponsor in this round. Other current stockholders also joined the funding. Founder, chairman, and CEO Lingyun Gu plans to utilize these funds in 3 sectors - enlarge the business analytics, big data engineering, and AI teams in R&D; expand business outreach to international markets; and introduce new merge-and-acquisition campaigns with upstream and downstream enterprises to augment and optimize the IceKredit's ecological composition and operational structure.
IceKredit, Inc. has become a leader in credit risk and credit management. Their team is composed of fintech scientists and engineers who come from ZestFinance, Lending Club, JP Morgan, Bank of America, Capital One, Discover, GE Capital, Barclays, Kabbage, Microsoft, Ant Financial, Tencent, Baidu, and other industry-leading companies in data and finance. 85% have technical expertise among the team of 270+ members at IceKredit. In addition, IceKredit has built 2 AI laboratories located in the United States and China for R&D, composed of Ph.D. graduates from Carnegie Mellon University, Stanford University, Columbia University, Purdue University, UC Berkeley, and many more highly-ranked academic institutions. Research-wise, they engage in deep learning, natural language processing, knowledge graph, voice recognition, computer vision, and other contemporary applications of data science and ML.
Yi Song, a staunch advocate of IceKredit and executive director of Guohe Capital, stated that, "IceKredit is an extraordinary and technologically-affine team of business analysts and engineers. They cultivate and motivate the relatively-unexplored application of artificial intelligence to contemporary finance. In addition, they have unparalleled experience in customizing risk management models for a variety of financial-technology enterprises. In the future, we believe that IceKredit could very well become a leader in the developing field of credit risk and credit management driven by AI technologies."
Chengyu Mao, founder and partner of Yunqi Capital, has also shared some of his aspirational views pertaining to IceKredit. "Yunqi has been a continual pioneer in the fintech industry since early 2014. Ever since its angel investment round, IceKredit has caught and kept our attention and business, and we confidently continue to invest in them. IceKredit has continuously developed novel techniques in AI, big data processing, risk modeling, and business appliances. IceKredit R&D is equipped with in-depth experience and game-changing technology. Influenced by dynamic updates in business regulations as well as unprecedented shifts in consumer behavior, banks are reallocating focus to consumer finance and SME loans. That's the market in which IceKredit can shine - a 3rd party risk control company can utilize AI technology to improve both the efficacy and efficiency of various financial companies and institutions. Fortunately, there is still a lot of room for IceKredit to develop in the future."
Since it was founded in 2015, IceKredit has been dedicated to providing service for subprime customers that have not been covered by FICO and other credit bureaus using AI technology, in order to help them get loans with relatively low interest rates. IceKredit's clients include many regional banks, community banks and credit unions. In recent year, IceKredit also entered Southeast Asia market. After the successful corporation with Oversea-Chinese Banking Corporation in Singapore, IceKredit gradually expanded its reach to market of Indonesia and Thailand. IceKredit has worked instantly with banks in Southeast Asia such as United Overseas Bank and Siam Commercial Bank. In China, IceKredit's clients include Bank of China, Industrial and Commercial Bank of China, Bank of Communications and other large financial institutions.
Supported by state-of-the-art artificial intelligence technology, IceKredit provides universal risk-management systems for banks and other financial institutions that counteract fraud, admit trustworthy customers, compute and approve financial transactions, enforce security through real-time monitoring and functional alerts, and much more, to accelerate and augment various contemporary business infrastructures and services. Outstanding products such as the IceKredit credit score, integrated enterprise risk control service, intelligent risk decision engine, and knowledge graph computing platform are crucial platforms necessary for any financially-resilient enterprise. IceKredit is in the process of applying artificial intelligence to expedite the development of Inclusive Finance that works for everyone.
In the future, IceKredit will continue to strengthen its technical advantages, optimize its business models, and broaden its overseas market. With the mission of Inclusive Finance, IceKredit will always provide efficient and convenient services for its worldwide partners using advanced artificial intelligence technologies.