(Yicai Global) Jan. 11 -- Chinese financial database platform Beta Data has raised tens of millions of dollars in a new round of financing, led by US quantitative trading firm Susquehanna International Group and Chinese venture capital firm Lightspeed China Partners.

Yuanyi Capital is the exclusive financial advisor, the Shanghai-based firm said yesterday. It will use the funds to expand its team and invest further in research and development so as to finetune its financial platform and improve its marketing to financial institutions.

Beta Data hopes to rely on accurate data and efficient algorithms to help more financial institutions build a new generation of digital customer relationship business models, so as to continuously improve their marketing and operational efficiency, said Chief Executive Officer Li Shouguo.

Lightspeed is optimistic about the Beta team’s outstanding capabilities and execution in product development and market expansion, said Associate Partner Jason Wang.

Beta Data delivers customized database solutions and user interface designs to enable digital financial service companies to help customers quickly achieve precise matching and differentiated marketing in a highly competitive market.

It has a database comprising 75 million high-net-worth customers, a database of 2.6 million financial products, industry-leading knowledge graphs for eight types of wealth management, and a tag database containing various financial products, customer product preferences and financial topic preferences.

The company counts 1.1 million high-end financial planners, including banks, securities firms, insurance companies, funds and trusts, as clients. It services more than 70 percent of bank outlets and over 50 percent of securities companies, it says.

Editor: Kim Taylor