WISECO Technology Raises CNY 650 Million to Integrate Big Data Algorithms Widely
Beijing-based big data integration company wants to make more businesses across various industries apply its smart solutions.
On May 30, WISECO Technology (睿智科技) reportedly raised CNY 650 million (USD 94 million) from its Series A funding round. R&D and talent breeding are the two directions that were indicated by Chen Jian, the company's Chairman of the board, as possible zones where the new-raised money could be placed.
This round included a completely new list of investors: Sino-Ocean Capital (远洋资本), China Growth Capital (华创资本), Boya Capital Partners (博雅资本), and Green Pine Capital Partners (松禾资本). Previously, the firm had raised CNY 100 million (USD 14.4 million) from its Series Pre-Series A funding round led by iPinYou (品友互动), Huagai Capital (华盖资本), and Santai Holding (三泰控股).
WISECO Technology is a big data integration service provider. The company is concentrated on the diverse set of fields including: FICO scoring, intelligent decision-making, one-stop cloud service, analytics and consulting services, robotics. Among the big data integrator's clients are banks, fintech companies, P2P platforms, e-commerce enterprises, retailers, etc. The company doesn't only integrate big data algorithms, but also employs solid mechanisms of data protection. According to the information published on the company's website, there are four categories of products it develops: Big data insight series products, one-stop cloud service, intelligent matching, intelligent robotic systems.
The WISECO's mission is "Breaking financial information asymmetry, promoting financial prosperity and inclusiveness" ("打破金融信心非对称, 促进金融繁荣与普惠"). It was established in 2014, and since then has been serving more than 100 large-scale financial institutions, including 12 of China's top 15 banks, 10 of the top 20 regional banks and 7 of the top 10 consumer finance companies countrywide.