Sunday, 2024 July 21

CHINA BRIEF| Xiaomi-backed corporate accounting and tax service provider Huisuanzhang raises USD 60 million in Series C+

Beijing-based corporate accounting and tax management Software as a Service (SaaS) provider Huisuanzhang has raised USD 60 million in its Series C+ round, led by Sunshine Life Insurance Corporation Limited, 36Kr reported on Thursday.

Gaocheng Capital and tech giant Xiaomi (HKG: 1810), which are both investors in previous rounds, participated in this round. The company, which has 2,000 staff, has not revealed how new funds will be used.

Huisuanzhang, which was founded in 2015, counts more than 500,000 small and medium-sized enterprises (SMEs) in China as clients, and provides services including accounting, business registration, and trademark registration, according to its website. The company has two accounting and tax management apps for companies.

Huisuanzhang is among a slew of companies aiming to provide professional accounting and tax services to China’s 30 million-plus SMEs. Its main rival, Yunzhangfang, closed its USD 85 million Series D round late last year, KrASIA reported.

36Kr is KrASIA’s parent company

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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