Electronic invoicing (e-invoicing) firm Hainan Golden Technology on Friday announced it has secured 1 billion yuan ($141 million) in a Series B funding round led by Tencent Holdings, Shenzhen Capital Group, CDH Investment, China Investment, and China Finance Fund.
Golden Technology’s existing investors including Hillhouse Capital, Wanda Group, Prometheus Capital, and IDG also joined the round, per a statement on the company’s WeChat account.
Established in 2017, Golden Tech is a subsidiary of Tencent. It provides solutions to businesses such as catering, hospitality, retail and property management. Its clients include Didi Chuxing, China Unicom, China Telecom, China Mobile and FedEx.
The Chinese firm plans to invest proceeds from its Series B round into boosting its capabilities in the areas of blockchain, cloud computing and big data.
Golden also aims to grab a share of the smart transportation market with ETC assistant, its platform for toll transactions.