IceKredit, a fintech firm providing credit management services, has raised $47m in a pre-Series C funding round.
Guohe Capital and a current stockholder Yunqi Partners sponsored the round with other existing backers participating.
The company has now raised a total of $91m which includes $44m generated from all previous funding rounds.
With the latest investment, IceKredit plans to expand its operations to new international markets.
The credit management firm also intends to strengthen its business analytics, big data engineering and AI teams in R&D as well as optimise its operational structure using the fresh funds.
Guohe Capital executive director Yi Song said: “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 customising 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.”
Established in 2015, IceKredit utilises AI technology to cater to subprime customers and assists them to avail loans with relatively low interest rates.
It provides financial institutions with universal risk-management systems to combat fraud.
IceKredit’s products include IceKredit credit score, integrated enterprise risk control service, intelligent risk decision engine, and knowledge graph computing platform.
Recently, IceKredit expanded into Indonesia and Thailand. In China, IceKredit’s clientele includes Bank of China, Industrial and Commercial Bank of China, and Bank of Communications.
The fintech firm has also developed two AI laboratories in the US and China.