Qiming Venture Leads $15M A+ Round For App Maker Wacai


Hangzhou-based Chinese personal finance bookkeeping and management app maker Wacai has received approximately US$15 million investment in series A+ financing led by Qiming Venture Partners, according to Chinese media reports.

Existing investors IDG Capital and CDH Investments also participated in the round.

Previously, Wacai obtained angel investment of around RMB10 million ($1.6 million) from Ameba Capital in 2011.

In 2013, the company received US$10 million series A investment from IDG Capital and CDH Investments.

After receiving the investment last autumn, Wacai acquired Shanghai-based financial research firm Trust Analytics and developed a series of innovative financial products.

Wacai’s mobile apps provide personal bookkeeping and wealth management platforms for Chinese individual investors. The app currently has around 60 million registered users.

Founded in 2006, Qiming Venture Partners manages over US$1.1 billion and has offices in Shanghai, Beijing and Hong Kong. It focuses on early and growth enterprises in sectors such as Internet, information technology, consumers and retail, health care and clean energy,

 

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