WI Harper Group | Sept 25, 2019
Recently, WI Harper-backed Hangzhou Yunphant Network Technology Co., Ltd. (“Yunphant”) and Zhejiang Yxassets Investment Management Co., Ltd. (“Yxassets”) successfully completed the signing of its A+ financing round. This financing will help Yunphant continue to enrich its product system, further promote the layout of blockchain technology in the financial technology industry, and empower the digital economy.
Yunphant was established in 2014. Thanks to their partnership with the Zhejiang University School of Computer Science, the company has an experienced financial technology team with extensive knowledge in blockchain, artificial intelligence, and big data, which has enabled them to successively obtain funding from well-known institutions, like WI Harper Group, Ningbo Duowei Space Equity Investment Co. Ltd., and Shenzhen Capital Group Co. Ltd.
After more than five years of development, Yunphant has created a wide array of fintech products, including blockchain infrastructure, blockchain trade finance systems, supply chain financial systems, big data risk controls and anti-fraud systems. It currently provides services to Yiyun, Bank of China, China Minsheng Bank, China CITIC Bank, Industrial Bank, China Everbright Bank, Postal Savings Bank of China, Ping An Bank, Zhejiang Financial Assets Exchange Center, Zhejiang Intellectual Property Exchange Center, Inspur Group and other dozens of well-known institutions.
Yunphant has applied for more than 70 national invention patents and more than 30 software copyrights. This intellectual property moat is a key driver for why the company is the only blockchain enterprise involved in the formulation of the People’s Bank of China’s trade finance blockchain standard. In addition, Yunphant has participated in a number of special projects for the Ministry of Science and Technology, and has undertaken the first key research and development plan on blockchain from the Zhejiang Province Project.
Yunphant’s Domestic Blockchain-based Platform for Circulation of Letter of Credit won the “2017 People’s Bank Science and Technology Development Award”, and its full-featured Blockchain-based Forfeiting Financial Asset Trading Market made the list of”10 Major Events in Financial Informatization in 2018”. Yunphant also ranked first in the “Top 100 List of China Blockchain Enterprises”, jointly released by Tsinghua University Internet Industry Research Institute and CCID Research Institute of the Ministry of Industry and Information Technology. At the 3rd Annual Growth Conference held by Hangzhou Municipal People’s Government and China Investment Development Promotion Association, Yunphant was shortlisted for the “Unicorn & Quasi-Unicorn Enterprises 2019”.
What’s next for Yunphant? The company focus is moving onto blockchain security, privacy protection, and industry solutions for the financial technology vertical.
Security and privacy protection are prerequisites for financial technology. Using its existing case experience, Yunphant is able to support multi-chain architecture of complex business systems, zero-knowledge proof privacy protection mechanisms for account models, and key technologies (such as intelligent contract vulnerability detection based on graph neural network). Data security is a cornerstone value for the company.
Yunphant will continue to extend the reach of existing products by providing effective solutions for (1) supply chain management systems, (2) logistics systems, (3) capital management systems, (4) credit systems, (5) billing systems, (6) credit reporting systems, and (7) B2B payment systems.
As Yao Qian, Deputy Secretary and General Manager of the China Securities Depository and Clearing Corporation, said in the speech titled “Digital Assets and Digital Finance” at the fifth Global Blockchain Summit:
The digital economy is the body, the digital finance is the blood, and digital
assets are the core. The digitization of assets is inseparable from the use of financial technology.
Blockchain solutions for FinTech is an important part of the digital economy landscape. Yunphant hopes to work with more institutions and insightful people in order to encourage and support digital economy’s further development.
Translated from: https://mp.weixin.qq.com/s/3kHDUEFooSSGF4_Pnf42dA