Shanghai based credit-assessment service provider IceKredit has raised $16m in Series A funding led by China Creation Ventures. Founded in 2015, IceKredit applies machine learning algorithms and big data related technologies to make all-rounded credit evaluations for individuals and SMEs in China.
Its products include an SMEs credit evaluation system and an individual credit assessment system, which consists of an anti-fraud engine, personal credit portrait and missing customer contact information restoration. The company has established business relationships with hundreds of domestic and overseas fin-tech and traditional financial companies, including Unionpay, Shenma Finance, NetEase Small Loan, Taizhou Bank, and Fullerton Credit, a subsidiary of Singapore-based Temasek Holdings. Upon its inception, the company received a RMB20 million angel round from FreeS Capital, Yunqi Partners and Will Hunting Capital. With the latest round, Ice Kredit has cumulatively obtained over RMB160 million in total financing.