Following the completion of series B financing of USD 10 million at the beginning of 2019, DFWY bank recently closed Series C financing led by Guochuang Zhongding and followed by Jianfa Shares. Both Angel round investors and A round investors made additional investment in this round. The investment will be used in product development and marketing expansion.

James Jin, a Managing Partner of Ventech China, said: “With a core product supported by multi-dimensional data, the efficient and professional team from DFWY Bank is committed to solving the SME’s lending pain points. We firmly believe that DFWY Bank will stand out in the fierce market competition”

Founded in 2015, DFWY is a pioneer of small and medium enterprises (SMEs) finance services provider. It facilitates the loan decision process for small and medium commercial banks by a big data engine combining SMEs’ taxation data and other risk-related data. DFWY offers full services from data access, product design, modeling, implementation to product landing. With its services, it enables banks to provide instant online credit loans to SMEs.

So far, DFWY has launched its services with nearly 30 banks in over 20 provinces. It primarily targets commercial banks in mid-size cities and rural areas that have a limited budget and know-how for the technology. The successful cases include “HaoQiDai” with Chongqing Bank, “Happy Loan” with Guilin Bank and “Happy e-loan” with Changsha Bank, etc.

In August 2019, DFWY bank was honorably selected as "Typical Case of China Inclusive Finance" in the second China Inclusive Financial Innovation and Development Summit held by People's Daily, China Banking Association, Insurance Association of China and China National Finance Development Institution.

In November 2019, DFWY Bank was honored as one of the "Top 10 Financial Technology Innovations" at China Financial Innovation and Development Forum of 2019, which was sponsored by Hong Kong Commercial Daily, China Development Finance Promotion Association, China Banking Association and Hong Kong Financial Development Bureau.