Shanghai-based Xingyi Information Technology, operator of online and mobile anti-fraud solutions brand Maxent, announced that it completed RMB 50 mln in Series A+ funding led by DCM Ventures in March 2017, with participation by Series A investor Vertex Ventures. Funds will be used for technology investments and to build a marketing team. The company expects to break even this year.
Maxent's anti-fraud solutions are mainly used for online transactions, including registration, login, and payments. According to the Maxent website, its products include its Maxent ID system and a counter-fraud Software as a Service (SaaS) platform. Its counter-fraud solutions cover the financial, e-commerce, and sales industries.
Maxent uses machine learning modeling based on data resources for anti-fraud applications, and generates warnings for the user when abnormalities are detected.
Maxent, established in November 2014, charges enterprise users based on user quantity or access frequency, with service prices averaging RMB 500,000 per year. As of February 2017, it has served more than 300 enterprises in various industries, including Bank of Communications, Hengfeng Bank, China UnionPay, Zhong An Information Technology, UMPay, Huanbei, and mobile credit-based personal lending app Xianjin Card.