DFWY recently announced that it has completed Series B fundraising, led by Ventech China and followed by Delta Capital.

Founded in 2015, DFWY is the pioneer of small and medium enterprises (SMEs) finance services. It interprets SMEs’ taxation data together with other risk management data into a loan decision system for Mid and Small size commercial banks. DFWY offers full services from data access, product design, modelling, system execution to product landing. By effectively connecting companies’ big data and banking services, it enables banks to provide instant online credit loans to SMEs.

So far, DFWY has launched it service with nearly 30 banks in over 10 provinces. It primarily targets mid-size city and rural area commercial banks which have limited budget and know-how for technology breakthrough. Successful cases include “HaoQiDai” with Chongqing Bank and “Happy Loan” with Guilin Bank, etc.

“Internet + intelligent big data” is the key of DFWY’s business strategy. DFWY concentrates on strengthening its taxation data process technology and product development. Under the premise of enterprise authorization, DFWY automatically collects multi-dimensional tax information such as taxation registration, credit rating, tax declaration, financial reports and combines it with other useful information to restore a comprehensive image of the company, which provides support on the credit decisions based on big data. DFWY is upgrading its service to an online centralized platform. Banks could access this platform for higher security, more comprehensive data solutions, clients lead generation as well as faster deployment vs. private deployment.

On the other hand, DFWY can also help financial institutions enhance post-loan management. It simulates the abnormal behaviors to predict business risks, also provides intelligent precautionary measures. With lean management from pre-loan to post-loan, the Intelligent Decision System will consolidate the structures of financial institutions’ credit loan business and broaden the services.

Eric Huet, a Managing Partner of Ventech China, believes that with the rapid development of finance market in China, there will be a boom in technology driven credit rating applications, particularly through 2nd generation Fintech companies such as DFWY.