Chinese risk-control services provider Tongdun Technology has raised more than $100m of investment in a funding round led by state-owned investor China Merchants Capital, GGV Capital and others.
The round was also co-led by China Everbright Limited and Chinese investment manager Guotai Asset Management according to a report by China Money Network. Previous investor Ningbo XinDa Hanshi Capital has also joined the round.
Tongdun develops software for anti-theft and fraud management applications used in a variety of sectors including the insurance, payments and e-commerce. The company has operations across Mainland China but also South East Asia, in countries such as Indonesia, Malaysia, and Singapore.
It is expected that company will use the new funding to finance their research and development activity, exploration of artificial intelligence technology and talent recruitment.
Tongdun previously raised $72.8m in its Series C round in October 2017, led by the Singapore state investor Temasek holding alongside Chinese investors Tiantu Capital and XinDa Hanshi Capital.
The company also secured $32m in 2016, in a Series B round led by Advantech Capital Partners.
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