Dowsure raised $20m to fuel cross-border e-commerce lending in China

By Leandra Monteiro

Dowsure Technologies, has attracted the attention of global strategic investors, fuelling the growth of millions of e-commerce sellers from China on marketplaces like Amazon, eBay, Shopee and more, unleashing the potential lending size of more than CNY 150 billion annually.

Shenzhen-based FinTech start-up Dowsure recently closed its USD 20 million Series B financing round, which is led by an undisclosed global top-tier strategic investor, and followed by VenturesLab, Qianhaiyifang, and existing investor Plug & Play China.

As Amazon’s lending service provider, Dowsure has built its proprietary assessment model for marketplace store owners, with the data API connectivity and account locking features, Dowsure has worked with dozens of Chinese banks in enabling pure credit loan based on store data with no collaterals, as technology and data provider. With 8 months in operations for a lending tech business, the company has facilitated more than CNY 35 billion in GMV for Chinese sellers on the Amazon platform.

Dowsure’s assessment model and algorithm can also be implemented in other digital assets which have continual online cash flow but are still considered underbanked by traditional financial institutions. The company has the vision to unleash the value of digital assets in the online world, other than marketplaces sellers, Dowsure has already worked with software marketplaces and application stores for product prototype, preparing to disrupt capital solutions for more industries with more funding partners.

Mark Mai, Founder of VenturesLab said, “The market Dowsure is targeting has huge potential and sizing, we recognize Dowsure’s approach to solve the underbanked issued in the 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.”

Qianhaiyifang’s Chairwoman, Serena Lai said, “We’re thrilled to participate in Dowsure’s latest round of investment, China has the world’s most complete consumer goods supply chain and the largest cluster of cross-border sellers, but these companies’ financial needs have not been fully satisfied, the emergence of Dowsure has provided an innovation solution to this pain point. We believe in the company’s ability to provide reliable dual account locking API and an advanced fintech model, which served as a foundation for digital credit products. Therefore, in addition to investing in Dowsure, Qianhaiyifang has also formed a strategic alliance with the company to jointly develop digital financial products for the cross-border e-commerce industry and seek to better serve this exciting emerging market.”

Chen Zhao, Managing Partner of Plug & Play China said, “Dowsure was our first investment for this industry in China, and we’re glad to provide continuous support for Byron and his solid team. We believe in their ability to keep building innovative lending solutions for the e-commerce industry, with the potential to expand into global market, and to different digital asset industry.”