In 2011, the company obtained angel investment of around RMB10 million ($1.6 million) from Ameba Capital.
Wacai’s mobile apps provide personal bookkeeping and wealth management platforms for Chinese individual investors. The app currently has over 40 million registered users.
The company says it will use the proceeds to expand its team and broaden partnerships, as well as exploring new online finance products.
(Update on July 16, 2015): Wacai received US$30 million series A+ from CDH Investments in October 2013, according to information on the company’s website.