China Digest: FXiaoke; eKeguan in funding news

FXiaoke has secured funding in its Series F round from CDH Wealth Management, while eKeguan has closed its Series B round led by New Oriental Education and Culture Industrial Fund.

CDH backs FXiaoke

China’s cloud-based customer relationship management (CRM) software developer FXiaoke has completed raising ‘tens of millions’ in its Series F round exclusively from CDH Wealth Management, an alternative asset management platform set up by CDH Investments in 2012.

FXiaoke has so far raised over 1 billion yuan ($155 million) from a slew of marquee investment firms such as IDG Capital, Hillhouse Capital, CPE, Northern Light Venture Capital, China Soft Capital, and Kingdee International Software Group Company, FXiaoke announced on Monday. 

Before the current round, in November 2020, FXiaoke garnered a similar amount from Kingdee, IDG Capital, and Northern Light Venture Capital, among others. 

With headquarters in Beijing and divisions across eight cities in the country, FXiaoke delivers CRM solutions for Chinese SMEs.

eKeguan nets $15m in Series B 

Redpoint China Ventures-backed vocational education brand eKeguan said on Monday that it has closed its Series B round of financing led by New Oriental Education and Culture Industrial Fund, a 1.5 billion yuan ($233 million) industry fund launched by China’s New Oriental Education & Technology Group in 2018. 

The round saw the participation of returning investor Zeyu Capital. Investment bank Yuanqi Capital served as its financial advisor, according to a company statement. 

Proceeds of the funding round will be deployed to strengthen its education products and resources, besides sprucing up recruitment. 

eKeguan primarily helps users pass exams in areas of banking, education, civil service, and healthcare. 

eKeguan’s early-stage investors include technology-driven Cloud Angel Fund and education fund BE Capital. 

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.