Asset360 Closes Series C Funding Round, Raising Over 100 Million Yuan

源码资本·August 7, 2018·0·0

Leveraging data and technology to serve industry needs.

Asset360, a next-generation internet finance asset management company, recently announced the completion of a Series C funding round exceeding RMB 100 million, led by Straits Capital with follow-on investment from existing shareholders including SIG. The proceeds will be used for new business exploration, AI product R&D, and talent acquisition. Asset360 will gradually intelligentize the non-performing asset (NPA) disposal process, continuously upgrade its technical capabilities, and accelerate product iteration.

Prior to this round, Asset360 had completed several funding rounds with support from Source Code Capital, SIG, Huarong Tianze, Weilie Capital, K2VC, Eastern Bell Venture Capital, Jiuchuang Capital, and 58.com's Michael Yao.

Zhou Shuwei, director at lead investor Straits Capital, commented: "The unprecedented growth of internet finance has created structural opportunities for new collection enterprises. Compared to the mature post-lending management system in the United States, Straits Capital is more optimistic about the enormous potential of China's personal credit NPA management — from NPA disposal to debtor rehabilitation planning, there remain many opportunities in China's credit market." He believes that Asset360's solutions enable deep integration with financial institutions starting from the risk control stage, not only accelerating creditors' capital recovery cycles but also protecting debtors' rights. He is confident that Asset360 will make substantive contributions to financial development going forward. This guiding perspective has given Asset360 substantial room for growth and reinforced its confidence in leading industry development. Going forward, Asset360 will forge ahead to bring new possibilities to financial markets.

Asset360 CEO Haitao Ye stated that NPA disposal, as a critical link in the financial industry chain, has very broad market prospects, and the rapid development of internet finance is accelerating service demand. As a pioneer in the NPA disposal industry, to maintain its leading position and continue spearheading industry development, it is essential to explore how data and technology can serve industry needs. In the new financial environment, demand for new financial asset disposal has surged dramatically. Asset360 aims to solve NPA disposal and restructuring problems, and is committed to building an internet finance asset management and disposal ecosystem centered on data and technology.

Asset360's team has deep understanding of the entire service chain, precise positioning of service core competencies, forward-looking industry insight, and keen market instincts. Based on market demand, it can promptly develop corresponding innovative service models and product R&D strategies. Recently, frequent P2P lending platform collapses have made the public extremely wary of the financial industry. To protect consumers' legitimate rights and interests, Asset360 recently launched "Operation Qinglei," aimed at helping investors minimize losses and recover investment funds in a timely manner.

Faced with fierce market competition and policy changes, Asset360 is never satisfied with business stability. It closely tracks regulatory policy trends and has deep understanding of industry development. The company's core members consist of seasoned internet product experts, microfinance specialists, and senior R&D elites — a very strong team. While continuously innovating in model and technology, and surveying the broader market environment and development trends, its industrial layout blueprint has already taken shape.

With industrial upgrading, Asset360 will continue to deepen its presence in the intelligent AI industry, connecting intelligence with the new internet finance ecosystem, and maintaining its industry leadership. Its previously launched intelligent AI collection robot "Xiao Dao" has attracted widespread industry attention, while its big data assessment model provides services and support for rational pricing, precise distribution, and intelligent strategies. Additionally, through online and offline training, salons, and summits, Asset360 facilitates discussions on risk control management and disposal services, further cultivating and strengthening trust and rapport to promote cooperation, substantially enhancing partner institutions' business standards and core competitiveness, and contributing to the industry's standardized development.

Asset360 CEO Haitao Ye said: "The speed of capturing market share and sensitivity to changes in the market environment are our 'Sword of Damocles' — forever etched in our minds. We have the courage to walk this path with greater speed and more solid commitment, capturing a larger market share."

Investors believe that Asset360's technology-driven business model is clear, its core products have obvious technical advantages, its product architecture aligns with regulatory and policy development trends, and it has tremendous potential for rapid scale expansion. At the same time, the company's management team is highly experienced and has won recognition from numerous capital partners. Asset360 will accelerate its pace to become a leader in the NPA disposal field both domestically and internationally.

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