Asset360 Closes New Funding Round; Existing Investor Source Code Capital Continues to Increase Stake

源码资本·January 22, 2018·0·0

On January 20, Asset360, a technology-driven non-performing asset disposal service platform, announced the completion of a new funding round. Investors included Huarong Tianze, the investment platform under China Huarong, as well as returning shareholders Source Code Capital and SIG Asia Investments. **This round of funding will further strengthen the company's AI capabilities, bringing in top internet talent and compliance professionals for asset disposal.**

On January 20, Asset360, a technology-driven non-performing asset disposal service platform, announced the completion of a new funding round. Investors included Huarong Tianze, the investment platform under China Huarong, as well as returning shareholders Source Code Capital and SIG Asia Investments. This round of financing will further strengthen its AI capabilities, bringing in top internet talent and compliance professionals.

Asset360's angel investors included Weili Capital, Eastern Bell Venture Capital, K2VC, and 58.com's Yao Jinbo, among others. In August 2015, it raised tens of millions of RMB in Series A funding from Source Code Capital. In June 2016, it completed a Series A+ round of nearly $10 million, led by SIG Asia Investments with follow-on participation from returning investor Source Code Capital and Jiuchuang Capital.

China Huarong, one of the four major state-owned asset management companies, values Asset360's technological innovation capabilities and professional disposal expertise. It is confident that as the company's intelligent collection robot continues to iterate and upgrade, and gradually becomes fully available to users, it will attract more technology software developers and disposal service providers to join the platform — collectively unlocking enormous potential in standardized disposal, efficient disposal, and even promoting the healthy development of the internet finance ecosystem, achieving leapfrog sustainable growth.

Ye Haitao, founder and CEO of Asset360, stated that as one of the earliest non-performing asset disposal service platforms built on "internet plus big data," Asset360 remains committed to technological innovation and steady growth, integrating disposal agencies nationwide to provide financial enterprises on its platform with one-stop, full-chain disposal services spanning pre-lending, mid-lending, and post-lending. Over three years, its offerings have evolved from information matching to SaaS services to the incorporation of artificial intelligence technology — continuously exploring, optimizing, and iterating in search of new breakthroughs, with data and technology at the core to build an internet finance asset management and disposal ecosystem.

In Ye's view, within the macro system, the disposal industry itself is a critical component of the entire financial system — enabling the virtuous cycle and orderly development of the financial sector is something that benefits both the country and its people. Ye said: "As regulators intensify rectification efforts and comprehensively standardize the development of internet finance companies, the non-performing asset disposal industry will ultimately move toward standardization. The essence of all this is to build a true ecosystem that allows the entire disposal industry to become regulated." With the goal of making non-performing asset disposal simple, Asset360 is dedicated to creating a green, healthy disposal model featuring process standardization, data visualization, and operational automation.

Grounded in genuinely solving user needs, Asset360 actively explores how to achieve faster, more convenient, efficient, and secure debt recovery, and how to realize standardized disposal through intelligence, datafication, and automation. It was among the first in the industry to launch a self-developed professional non-performing asset disposal management system, making all of this possible. Products and services including its intelligent collection center, outbound call system, and mobile collection tool "Cuiji" intelligent app have continuously iterated and upgraded, leveraging AI technology to enhance disposal efficiency and compliance.

Facing the explosion of new non-performing asset types under regulatory storms and new business models, as well as the increasingly diverse demands driven by disposal effectiveness, Asset360 has a clear understanding. Ye noted that data-driven and technology-driven applications will increasingly enter the disposal field. In the coming year, Asset360 will also expand by establishing more branches across additional cities nationwide, continuing to seek and develop more diversified disposal methods and channels, and looks forward to working with more partners to go further in building industry-standardized disposal processes.

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