(Yicai Global) March 12 -- Chinese startup Tigerobo, which combines artificial intelligence and finance, has raised USD33 million in a funding round led by Prospect Avenue Capital.
The money will go toward product technology research and development, hiring and an international expansion, tech news site 36Kr reported, citing founder Chen Ye. CreditEase New Financial Industrial Fund and Gaorong Capital provided support funds for the series.
Tigerobo entered the stage of marketization from the large-scale testing stage after the pre-A round financing, Chen Ye told 36Kr, saying the firm has reached cooperation with many top financial institutions, news groups, educational institutions, governments and regulatory agencies at home and abroad.
Tigerobo began commercializing operations after large-scale testing once it secured its pre-A funding, Chen said, adding that the Shanghai-based firm already has partnerships in place with top financial institutions, news groups, education companies and government agencies at home and abroad.
Since its founding in mid-2017, Tigerobo has raised a total CNY400 million (USD60 million), including a CNY100 million pre-A series led by NWS Holdings, a unit under New World Development. Its main products include smart search, machine learning and translations for the financial sector. One of its best-known products is fintech question and answer platform Tigerobo Search.
Editor: James Boynton