Software-as-a-service (SaaS) firm Maycur has pocketed 200 million yuan ($30 million) in Series B++ financing from CMC Capital, while Shenzhen Jijia Cross-border Network Technology has garnered 180 million yuan ($28 million) in a Series A round of financing led by Seas Capital.
Maycur bags $30m in Series B++
Maycur, a SaaS developer that helps enterprises manage their financial expenses, announced on Monday that it has raised 200 million yuan ($30 million) in Series B++ round financing from TMT-focused CMC Capital.
Maycur has so far raised over 400 million yuan ($62 million) in its Series B round of financing. In February this year, it had secured 100 million yuan ($15 million) as part of the round from state-backed GP Capital and Vitalbridge Capital.
Previously in August 2020, Maycur had also bagged a similar sum in the first tranche of the Series B round from Vitalbridge and Bojiang Capital, per a company statement.
Proceeds from the funding round will be used to accelerate product and technology development and talent recruitment and ramp up sales and service infrastructure.
Located in East China’s Hangzhou, Maycur offers cloud-based tools to manage invoices, expense reimbursements, and procurement.
It claims to have served over 2,000 clients including Chinese food products giant Yihai Kerry Arawana Holdings, China Aerospace Science and Technology, auto player SAIC Volkswagen and OPPLE.
Jijia nets $28m in Series A
Shenzhen Jijia Cross-border Network Technology Limited, a SaaS specialist focused on cross-border e-commerce, has garnered 180 million yuan ($28 million) in a Series A round of financing led by venture capital firm Seas Capital, per a company statement on Monday.
The fresh round saw the participation of new investors including Hong Kong’s eGarden Ventures, Harvest Fund’s Harvest Capital Management, Hony Capital, as well as Z Capital, an investment firm focused on industrial internet and consumer goods.
Returning investors Yunqi Partners and Zhuopu Capital re-upped in the round. The two investors had invested 30 million yuan ($4.6 million) in Jijia’s pre-Series A round in March this year.
Jijia said it will utilise the proceeds from its latest financing for team expansion, product and technology innovation, and market development.
The company, which was founded in 2017 by CEO Huajun Zhang who worked for intelligent charging solutions major Anker, offers enterprise resource planning (ERP) tools to cross-border e-commerce players operating on platforms such as Amazon.
Jijia claims to have served more than 1,000 medium and large players.