China: Hangzhou Tongdun Technology raises $32m

China-based security risk management tech company Hangzhou Tongdun Technology has raised $32 million in a Series B round led by Advantech Capital, an investment firm focusing on technology, media and telecommunications, healthcare as well as other e-services in China.

Other investors that participated in this round include Suzhou Oriza Holdings, Co. Ltd., and others which have participated in previous rounds: Qiming Venture Partners, CBC (China Broadband Capital), China Growth Capital, IDG Capital Partners, and Linear Venture.

Founded in October 2013, the company has grown from over 10 staff to around 300 people on its payroll, the company said in a press release. It primarily provides its anti-theft and fraud management services to financial, insurance, payment, online shopping and social networking companies.

According to Tongdun Technology, it has entered into partnerships with Credit Ease, Heng Chang, Koudai.com, Meituan.com, and nearly 3,000 others.

Jiang Tao, the CEO of Tongdun Technology, said in a statement that the company is honoured to be able to work with Advantech Capital and Suzhou Oriza Holdings, and believe that this partnership will bring the firm top-notch management experience and plenty of clients. In the future, they will continue to expand the amount of data they have, and add more ways of doing business, in order to become one of the leading big data companies in the country, he said.

According to Advantech Capital’s founder and managing partner Yu Jianming,   Tongdun Technology has a management team that has a wealth of experience under their belt and a unique business model. In the Internet, financial risk management and anti-fraud sectors, it has already secured a dominant position, he said.

Research and Markets has valued the global fraud detection and prevention, as well as anti-money laundering market, at $21.4 billion by 2019, which is a significant jump from $9.62 billion in 2014.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.