CBC Capital Leads $10M Series A+ In FraudMetrix

Hangzhou, Zhejiang Province-based Chinese financial risk control and anti-fraud service provider FraudMetrix has completed US$10 million series A+ financing led by CBC Capital, according to Chinese media reports.

 IDG Capital and Linear Venture also participated in the round.

The proceeds will be used for product innovation, market expansion, as well as human resources development.

The company previously received RMB10 million (US$1.6 million) series A financing from IDG Capital and China Growth Capital last November.

Founded in 2013, FraudMetrix is developed by the former technology engineers from Alibaba Group, Paypal, and RSA. It focuses on providing network risk and fraud solutions, serving nearly 100 institutional clients in the banking, third party payment, credit dealers and gaming industries.