Supply chain finance platform Daokoudai receives USD 15M for Series A
Daokoudai
Founder: Luo Chuan
Founded in: 2014
Financing status: RMB 100 million (USD 15 million) for Series A financing in 2017
Supply chain finance platform, Daokoudai, received USD 15 million for Series A on December 13 to improve its financial risk management system.
Daokoudai is an online supply chain finance platform that provides users with reliable investment products based on the success of combinations between industry and institutes from the Fintech Lab of Tsinghua PBCSF. Unlike other P2P leasing platforms integrating third party assets for trading and investment, Daokoudai focuses on offering financial assets while it runs analyses and risk management itself.
According to the company, over the past three years, Daokouda has presented credit services to a large number of enterprises from farmers and rural areas, such as agriculture, animal husbandry, food retailing, manufacturing and processing, energy conservation and environmental protection.
Daokoudai was founded in 2014 Beijing, with support from Tsinghua alumni, a list of people associated with Tsinghua University in Beijing. By now, Daokoudai has formed partnerships with more than 60 enterprises, and served over 1600 small and micro enterprises from the supply chain financial industry with more than 10,000 financing cases. Additionally, the platform accumulated a turnover of over RMB 7 billion (USD 1.06 billion), which contributes more than RMB 200 million (USD 30 million) in revenue to tens of thousands of investors on its platform.
This new financing round was led by Beijing Cultural Center Fund (BCCF), with SinarMas from Indonesia and Zhen Ru Investment Management Company also participating in this round of investment. Before this Series A round of funding, Daokoudai has secured RMB 27.5 million for angel investment. The capital will be used to build and optimize its pricing system for small and micro enterprises, improve its operation efficiency via further investment in the R&D of risk management systems, as well as improve its service efficiency for an enhanced customer experience.
(Top photo from 699pic.com)
