China: QianCheng Tech closes $30m series B; DotC United raises $350m

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Shanghai-based fintech firm QianCheng Technology and Hong Kong-based mobile app developer DotC United have close their series B funding rounds.

Chinese fintech firm closes $30m series B

Shanghai-based fintech company QianCheng Technology has secured RMB200 million ($30 million) in a series B round from Tiantu Capital and U51.com.

AVCJ’s report cited that the transaction was completed in April.

Founded in 2015, QianCheng Technology has provided intelligent risk management solutions to financial institutes to help them lower cost and improve service efficiency.

It also offers internet short-term micro-finance information services to people who cannot access traditional financial institutes.

The company cited that more than 70 per cent of its employees are developers and the core members are from Tencent, Capital One and Lufax.

DotC United raises $350m series B

Hong Kong-based mobile app publisher and developer DotC United Inc has raised a $350 million series B round led by Shenzhen-listed gaming developer Dalian Zeus Entertainment.

This round has increased the company’s valuation up to $5.1 billion, according to the information from Crunchbase.

A year ago, it completed its series A funding round of RMB300 million ($45 million) from a group of investors including Banyan Capital, Chengwei Capital, Morningside Ventures, BAI and Lightspeed China Partners.

Dotc United Inc was launched in 2015 by Avazu Holding. It has developed several smart tools such as SwiftWiFi and Flash Keyboard. The company has differentiated itself by offering high-customised apps and it claims to have 50 million users on Google Play so far.

Also read:

China: Weiying Technology raises $694m from Dalian Zeus Entertainment, others

Hong Kong’s app developer DotC secures $45m in Series A

China Digest: U51.com gets $310m; H&Q Asia Pac leads Efficient Drivetrains round

Tiantu Capital leads $36m Series C Chinese comic portal Kuaikan Manhua

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.