Singapore’s Temasek co-leads $72.8m funding in Chinese fintech firm Tongdun

An employee walks past a sign for Temasek Holdings Pte at the company's offices in Singapore. Photographer: Munshi Ahmed/Bloomberg

Singapore’s state investment firm Temasek Holdings, along with Chinese investment firm Tiantu Capital and Xindahanshi Capital, has led a $72.8 million funding round in Chinese fintech start-up Tongdun Technology, as per a CMN report.

Tongdun, an Internet risk control and anti-fraud services provider, plans to use the latest financing proceeds towards research and development, and to expand business by partnering with overseas fintech companies, the report said.

Founded in 2013 and headquartered in Hangzhou, Tongdun primarily provides its anti-theft and fraud management services to financial, insurance, payment, online shopping and social networking companies.

The company claims to have offered risk management services to over 7,000 institutions in China. It has also provided risk management, anti-fraud and differential pricing of insurance products services for over 20 insurance companies, said the report quoting a company announcement.

Tongdun Technology had raised $32 million in a Series B+ round led by Advantech Capital in April last year.  A year prior, it secured a $30 million Series B round led by Qiming Venture Partners.

Recently, Temasek also led a $59 million Series B round in Hangzhou Just Biotherapeutics Co Ltd (Just China), an affiliate of Seattle-based Just Biotherapeutics. The firm’s other investments in China include Alibaba Group, China Construction Bank Corporation and Industrial and Commercial Bank of China Limited (ICBC).

Also Read:

China: Hangzhou Tongdun Technology raises $32m

Temasek leads $59 million Series B in biotech firm Just China

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.