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Pioneering Big Data & Risk Control Intelligence, IceKredit Receives Another 25-Million-Dollar Investment

SHANGHAI and LOS ANGELES, April 9, 2018-- Recently, IceKredit Inc. announced that its successful Series Pre-B capital financing raised nearly 25 million US dollars. This financing round was led by YOOZOO Network (SZ. 002174), followed by YongRui Investment and other previously participating investment companies. Before this, IceKredit received funding from several leading global Investors, including FreeS Captial, Yunqi Captial, China Creation Ventures, Lingfeng Capital and many others. Hereto, IceKredit Inc. has raised over 50 million US dollars within less than 3 years.

As a risk management platform based on big data and artificial intelligence, IceKredit has become the pioneer in this field. Backed up by top-notch technologies, IceKredit always upholds its principle of excelling as a third-party expert by only providing the best services and solutions. Without selling data nor directly lending, IceKredit stands firmly on the pillar of best-in-class technologies, fully devoted into advancing its models and perfecting its business analytics. Meanwhile, IceKredit not only strictly follows rules and policies but also partnered up with regulation institutions to actively seek together the effective utilization of artificial intelligence in the financial field. Aiming to lower default rates and optimize strategic solutions, IceKredit has truly become a leading force that helps to increase clients' credit assessment effectiveness and maximize revenue.

Ever since its inception, IceKredit Inc. had a global vision that aspired to expand its credit assessment business rapidly in the US, China and Southeast Asia markets. IceKredit has established offices in Los Angeles, Shanghai, Nanjing, Singapore and six other cities globally. In the U.S., IceKredit particularly targets the sub-prime market, 15% of the entire US population who are not covered by FICO and related credit bureaus. With the latest technologies and accurate solutions, IceKredit helps lenders provide these individuals with the financial resources that they deserve, at a relatively low rate. On the other hand, IceKredit has devoted substantial efforts to advancing enterprise credit assessment technologies and models. This successful Series Pre-B capital financing serves as an affirmation from the capital market, endorsing IceKredit's continuous development and innovative practice in the enterprise credit assessment field. Upon completion of this round of investment, IceKredit Inc. will continue pioneering the SME credit assessment market with more advanced products.

For instance, IceKredit developed a public sentiment system that utilizes artificial intelligence algorithms to analyze online platforms such as social media and internet news which are publically available. In doing so, IceKredit can generate a public sentiment score that helps to monitor SMEs. This system is a brand new dimension of enterprise credit assessment, and it is also a testimony of IceKredit's innovative efforts. For another example, IceKredit Super Report Repair incorporates multiple artificial intelligence related technologies to realize the process optimization of IPC technology. Additionally, IceKredit integrates Knowledge Graph and Graph Database into its enterprise loan guarantee relationship network, which enables in-depth analysis that helps to produce risk warnings in advance. With Transfer Learning, IceKredit makes it possible to effectively and conveniently train and develop models between different SME fields. Owner's credit assessment is one of the four major parts of SME credit assessment, and IceKredit has significantly improved the efficiency and precision in this aspect with its own solutions. With only three required elements (name, phone number and ID number), IceKredit can immediately make an accurate risk decision. Aside from these highly recognized practices, IceKredit is working on exploring many more possibilities with the best utilization of artificial intelligence in SME credit assessment.

Dr. Lingyun Gu, the founder, chairman, and CEO of IceKredit Inc., benefiting from a combination of more than 10 years of experience and understanding of both the U.S. and Chinese financial markets, laid a solid foundation for the international success of the company. He graduated from Carnegie Mellon University with a Ph.D. degree in Computer Science. As the founding member of the modeling team at ZestFinance, he transformed the technological models there. Then, Dr. Gu became an Entrepreneur in Residence (EIR) and Investment Advisor at IDG-Accel/IDG Capital Partners. Currently, Dr. Gu also holds a board of directors position in a public company, Beijing Sino data, Inc. (002657). Additionally, Gu is the venture partner of Frees Fund and works as an adjunct professor on the Academic Board of UESTC. Undoubtedly, Dr, Lingyun Gu is an expert with in-depth knowledge about the Chinese and US credit markets, as well as a specialist in finance, big data and machine-learning related technologies.

The core IceKredit team also comes from a very impressive background. They have received Master's and/or Ph.D. degrees from University of Chicago, Purdue University, Georgia Institute of Technology, George Washington University, New York University, Carnegie Mellon University, Stevens Institute of Technology, etc. They held critical positions in leading technology or financial services companies such as Kabbage, ZestFinance, Lending Club, Capital One, Discover, GE Capital and Barclays. For example, the Board Advisor Ms. Chaomei Chen is a top expert in the risk control field: after graduating from Johns Hopkins University, Ms. Chen was the Chief Risk Officer at Lending Club, the largest global P2P company. She also held multiple executive positions in several leading banks such as JP Morgan Chase.

Currently, IceKredit has over 1000 paying clients and has established deep partnerships with dozens of leading financial companies and banks in China. In the US market, IceKredit has also begun strategic collaboration with several Native American tribes and large financial institutions. In its field, IceKredit Inc. has absolutely gained a strong presence as a global leader.

Aside from the investment world, IceKredit Inc. has also received affirmations from domestic and oversea media and government. For instance, IceKredit was recognized as one of the "250 Top Global Fintech Companies" named by CB Insights and KPMG "Top 50 Chinese Fintech Companies" in 2016 and 2017.

In the future, IceKredit Inc. aspires to maintain its steady growth, while creating an even stronger global presence with expanded international partnerships. With futuristic and effective development strategies, IceKredit envisions providing the best technological models and business analytics solutions to its clients in the individual and small enterprise credit assessment fields.


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