CreditEase Fintech Investment Fund joins $36 Million Series B+ Funding Round in China's startup Fenbeitong
Yiren Digital Ltd. American Depositary Shares, each representing two ordinary shares (YRD)
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Source: PR Newswire
BEIJING, March 13, 2020 /PRNewswire/ -- On Mar. 13, 2020, CreditEase Fintech Investment Fund ("CEFIF") announced that it joined a $36 Million Series B+ financing round in Fenbeitong, a renowned corporate expense management start-up in China, alongside Eight Roads, Glade Brook Capital, Ribbit Capital, IDG Capital and China Growth Capital.Fenbeitong helps companies to better manage and control their expenditures through technological innovations. Founded in 2016, the fast-growing company has already established itself as an industry leader and has served over 1,000 corporations.The company will use the funds to double the size of Fenbeitong's product research and development team and further improve its customer experience. The company will also seek more channel partners and cooperate with cross-industry players, expending their business into more first and second-tier cities in China."In the U.S., we have seen unicorns like Brex, Divvy, and TripActions quickly rising up in the corpora
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