China Digest: BitRock snags $4m; ABC Tech raises Series B; Ant arm backs campus platform

Pufa Tower in Shanghai, China.

Chinese social platform YeeCall has participated in the $4-million investment round of BitRock, the fintech platform it incubated, while ABC Technology, an AI-based cloud service provider, has secured $30 million from Mindworks Ventures and others. Also Shanghai Yunxin Asset Management Co., an affiliate of Ant Financial, has made a $36.81-million strategic investment in Beijing-based campus information platform operator Perfect Digital Technology Co.

Fintech startup BitRock closes $4m from YeeCall, others

Social platform Yeecal has participated in the $4-million round of Singapore-headquartered BitRock, a blockchain-based startup it incubated.

The startup aims to provide fintech solutions for the blockchain industry. BitRock operates across three major businesses, Banko Wallet, a  digital assets management platform, Rawpool Mine Pool that explores new use cases and profit model for a competitive mining pool and Snake Quant Fund.

YeeCall, led by former Baidu director Lei Zhang, is developing and applying blockchain technology for different industries.

In 2017, YeeCall raised a $12-million Series B from Addor Capital, Sinovation Ventures and other VCs. In 2016, it raised a $10-million Series A from Sinovation Ventures and a $2 million angel round from investors including ZhenFund and its CEO.

ABC Technology raises $30m Series B

ABC Technology, an AI-based cloud service provider, has raised $30 million in a Series B financing round from Hong Kong-based Mindworks Venture and others including its exiting investors, 36Kr reported.

The financing will be used for business expansion and improving its financial services offerings.

Established in 2016, ABC Technology has been offering applications for financial search services since 2017. Its products include Analyst.ai, Bond.ai and Modeling.ai.

ABC Technology has over 50 clients including financial institutions like Hong Kong Stock Exchange and Ping An. Prior to the latest financing round, ABC Technology raised a Series A round of $30 million.

Ant Financial arm invests in Perfect Digital Technology

Shanghai Yunxin Asset Management Co., an affiliate of Ant Financial, has made a $36.81-million strategic investment in Beijing-based campus information platform operator Perfect Digital Technology Co., China Money Network reported.

Following the transaction, Newcapec Electronics and Shanghai Yunxin will provide hardware custom design, development and production support of terminal products and mobile applications to Perfect Digital Technology.

Shanghai Yunxin Asset Management is a wholly-owned subsidiary of Ant Financial, the operator of China’s biggest online payment platform by market share Alipay.

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