HNA Group Leads $79M Series C Round In Weimob

Shanghai-based Weimob, a customer relationship management (CRM) solution provider based on Tencent Holdings Limited’s Wechat app, has completed RMB500 million (US$79 million) series C round of financing led by HNA Group, according to a company announcement.

The round values the two-year-old start-up at RMB2 billion (US$315 million) after the injection of the new capital, says the statement.

Established in 2013, Weimob raised RMB150 million series B financing from undisclosed investors in April.

Before that, it raised RMB30 million series A round from a Chinese venture firm named 825 Fund in 2014, according to its website.

Weimob primarily provides companies with WeChat-based development, operation, training, and promotional solutions, helping businesses that do not have software development experiences to build e-commerce platforms on WeChat at lower costs.

The company serves over one million clients in the e-commerce, food & beverage, automobile, real estate, healthcare and tourism sectors, says its website.

China Expert network