The professional third-party intelligent risk management service provider Tongdun completed a capital increase of USD 100m

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The Background Tongdun Technology was started with a mission to provide anti-fraud technology to banks, but it took quite a detour to get there. As the Chinese P2P industry boomed around 2014, the company found its services suddenly in great demand. P2P lending platforms, microfinance firms, e-commerce firms, social media apps and dating sites all turned to Tongdun, which then combined this enriched data to build more comprehensive risk profiles.

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The Deal The Chinese company Tongdun, headquartered in Hangzhou, Zhejiang, has successfully completed a capital increase of USD 100m. IEG – China, under the leadership of Director Lawrence Wang, has acted as financial advisor to participate in this round of capital increase and introduced a fintech industry oriented fund with strategic value and strong financial industry resources to raise around USD 8.8m. Lawrence Wang, Director at IEG – China reflects on working with Tongdun: "It is a cornerstone and basis to establish mutual trust and working relationship with Tongdun, and we believe we can work with Tongdun on the next level of business and reach successful results for both parties!"

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The Client Tongdun Technology is a professional third-party intelligent risk management and decision-making service provider that offers solutions in intelligent user analysis, intelligent risk management and intelligent antifraud by integrating artificial intelligence into business scenarios. The technology of Tongdun is applicable in various industries such as financial services, logistics, healthcare and smart cities as well as the internet business.

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The Perspective Next, the company has its eyes on Southeast Asia, where Chinese internet finance firms have been active and the local online banking market is expected to grow significantly. Meanwhile, growing with the strategic investors, especially with resources and channels in the financial industry is ultimately important to Tongdun. The fund IEG - China has introduced is meeting all the asked and relevant cirtieria.

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