Qiming Leads $30M Series B Round In FraudMetrix

Hangzhou-based Internet security firm FraudMetrix has completed US$30 million series B round of financing led by Qiming Venture Partners, according to an announcement posted on the company’s Weibo account.

Existing investors China Broadband Capital, IDG Capital Partners, China Growth Capital, and Linear Venture also participated.

Founded in 2013 by former employees of Alibaba Group Holdings, PayPal, SAS, FraudMetrix received RMB10 million angel investment from IDG and China Growth Capital at the time of its establishment.

It then received US$10 million series A+ funding led by Broadband, with participation from IDG and Linear Venture in 2014.

FraudMetrix provides security products against Internet risks and fraud. Its products are used by banks, third-party payment services, e-commerce firms, and online gaming companies.

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