Supply chain financial services provider Linklogis received USD 29 M from Tencent for Series B
Founder: Song Qun
Founded in: 2016
Financing status: RMB 200 million (USD 29 million) for Series B financing in 2017
Supply chain financial services provider, Linklogis, received USD 29 M from Tencent for Series B on August 10 to improve its risk control efficiency.
In recent years, supply chain financial services have been a hot area in China, which attracts large companies’ attention and capital. Although the development of banks and financial companies are often very dramatic, there is still a lack of mature financial products and accessibility to these services. Because of this, there are tens of millions of micro enterprises and small companies seeking development opportunities through private lenders that charge exorbitant interest rates. These micro enterprises contribute 60% of China’s GDP, 80% of urban jobs and 50% of taxes. These supply chain financial services face three common problems: risk control, high efficiency, and operation cost. Dealing with these problems can not only help micro enterprises seize development opportunities, but also profit from dealing with it in an innovation way.
Linklogis is a supply chain financial services provider that provides micro enterprises and small-sized companies with supply chain financing services. It established its own risk control platform and assessment management platform based on big data technologies in order to help its partner companies secure funding for development, as well as provide them with other finance related services. Currently, it provides loans directly to some micro enterprises, and it also connects companies with other financial institutions to obtain loans.
Founded in 2016 in Shenzhen, it is working with banks in China to promote its supply chain financial services across China. Currently, it offers comprehensive supply chain financial services to Vanke and Poly.
Linklogis previously received funding from Tencent and Loyal Valley in the last year. This new financing round was led by Tencent, with China Merchants Venture Capital Management Co., Ltd. and Bertelsmann Asia Investments participating as investors. The capital will be used to invest in the research and development of its risk control platform, in order to promote its supply chain financial services to new customers precisely.
Educational platform Banke received undisclosed Series A in the millions of USD
Founder: Gao Hui
Founded in: 2014
Financing status: Series A in 2017 amounting to tens of millions in RMB (a few millions USD)
Educational platform Banke received undisclosed Series A funding in the millions of USD on August 10 to expand its business to more cities.
Banke is an educational platform that integrates educational organizations to help them promote their training services. First of all, it seeks out high quality educational organizations to form deep bonds through stock exchange or shares. Then, Banke promotes their training services online. Additionally, students can get a tuition waiver by sharing Banke’s services on their social media accounts and inviting their friends to join the training. It helps students save money on tuition and enables small but high quality educational organizations to start their business.
Founded in 2014 in Wuhan, currently Banke has grabbed more than 110 educational organizations in Wuhan, with an RMB three million turnover rate monthly. It aims to acquire over 1000 partners by the end of this year, and expand its business to Beijing and Guangzhou.
Banke landed this Series A financing round led by CapitalNuts. It plans to use the funds to invest in market expansion plans, as well as recruit more employees and improve the efficiency of its online services.
（Top photo from 58pic.com）