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Wecash, a subsidiary of Abakus, was introduced in October of 2013 and is based on the B2B2C model which connects financial institutions and customers. Wecash is a powerful fintech platform which uses AI to help banks and financial institutions achieve intelligent marketing. This reduces customer acquisition costs and improves decision-making efficiency. To date, Wecash has helped more than 80 financial institutions complete transactions with 40 million users.
Wecash is a big data credit assessment platform that provides solutions to technology companies. Wecash leverages AI technology and machine learning chips to provide services across a variety of industries, including finance, residential rentals, and consumer goods.
PRODUCTS & SERVICES
Wecash offers credit evaluation services by leveraging data mining analysis and machine learning technologies. The evaluation results enable individual users & financial institutions to complete transactions quickly and effectively.
The company generates revenue from microcredit deals and interest as well as from renting credit scores to other companies.
Retail and institutional customers
As of the end of January 2018, Wecash had supplied hundreds of millions of credit reports based on the 130 million users whose credit histories were available in the Wecash database and also the company has provided solutions to over 50 financial institutions.
DATE OF LAST FUNDING
TOTAL FUNDING COMMENT
The company is planning to use its funds to expand its lifestyle service portfolio to include residential rentals, consumer goods, and aesthetic surgery and to widen the application of its artificial intelligence capabilities in data mining, machine learning, and smart chips. (Mar. 2018)
SERIES A · $5.81 M · Sep 2014
SERIES B · $20 M · Mar 2015
SERIES C · $80 M · Apr 2017
SERIES D · $221 M · Mar 2018
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