Chinese electronic invoicing (e-invoicing) firm Ekuaibao has secured 353 million yuan ($50 million) in its Series C and C+ round.
The recent Series C+ round financing of 141 million yuan ($20 million) was exclusively led by Sequoia Capital while the Series C round of 212 million ($30 million ) was launched by Tiger Global Management and joined by the existing investors DCM and Future Capital, a media statement on Tuesday.
Established in 2014, Beijing-based Ekuaibao offers enterprise invoicing management and claims to have nearly 2,000 clients. It has completed three rounds of financing in 2019.
Armed with the funding, Ekuaibao is looking to build a larger sales and marketing team and also set up divisions in central and western China in a bid to capture increased market shares.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region in the last week.
In among the biggest rounds this week, Taimei Technology, a Chinese cloud-based software provider that serves pharma companies, completed its Series E and Series E+ financing at 1.5 billion yuan ($212 million) led by New York-based investment company Tiger Global Management and Tencent, respectively.
Chinese internet giant Tencent Holdings has been active this week having joined the $141-millon Series B round for electronic invoicing firm Hainan Golden Technology. Another recent headline deal was the $100-million Series B round for Chinese mobile content platform operator Qutoutiao’s e-book brand Midu. CMC Capital led the round.