Legend Capital Joins $23M Round In Financial Risk Tech Start-Up Bangsun

Chinese venture capital firm F&G Ventures has led a RMB160 million (US$23 million) series B+ round in Bangsun Technology, a Zhejiang province-based real-time financial risk management start-up.

F&G Ventures is established in 2012 by former rotating CEO of Huawei Technologies, Steve Hong, and former partner of Fidelity Asia Yu Qian. A number of investors including Legend Capital and Co-Stone Capital also participated in the round, according to a company announcement.

Founded in 2010, Bangsun develops real-time risk control system for the financial sector and anti-fraud products, based on a number of core technologies including device fingerprint, proxy IP recognition, suspicious communication recognition, risk control engines, machine learning and workflow management.

It has provided services including payment anti-fraud, ap...

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