China-based Dowsure Technologies has raised $20m from a Series B financing round that was led by an undisclosed global strategic investor.
Also participating in the round were VenturesLab, Plug and Play China and Qianhaiyifang.
Dowsure is a key player in the cross-border ecommerce market and provides unified lending experiences for cross platform sellers such as Ebay, Amazon and Shopee.
According to FinTech Finance, Downsure’s assessment model and algorithm can be implemented in digital assets that have continual online cash flow but are still considered underbanked by traditional financial institutions. The company has a vision to unleash the value of digital assets in the online world.
VenturesLab founder Mark Mai said, “The market Dowsure is targeting has huge potential and sizing, we recognize Dowsure’s approach to solve the underbanked issued in cross-border e-commerce industry as the best practice in this market, and this model was also approved by multiple top banks in mainland China and HK, we’re confident that Dowsure will continue to innovate and scale to become a Fintech unicorn soon.“