JD Finance leads $30m round for China's Microseer

Existing investors including IDG Capital Partners, China Growth Capital, Shanghai Jinye Equity Investment Partners and CICC Private Equity also took part in the round.

Founded in 2009, Microseer provides cloud-based human resources and IT outsourcing solutions for Chinese small and medium-sized enterprises (SMEs), covering recruitment, salary payment, social security management and work performance evaluation. The company claims to have served more than four million employees in 70,000 Chinese companies.

Microseer raised an undisclosed seed round in 2012 and then a Series A round two years later, which counted IDG and China Growth Capital among the investors. Following the new funding round, the company will focus on market expansion, product improvement and brand enhancement. It also expects to leverage JD Finance's existing client base and payment technology, Microseer founder Jianglong Hu told Tencent QQ News.

Earlier this year, JD Finance raised a RMB6.65 billion ($1 billion) funding round led by Sequoia Capital and China Taiping Insurance. Operating much like Alibaba Group's Ant Financial unit, the company seeks to leverage JD.com's technological expertise to disrupt traditional financial services. In April, it invested in Meili Jinrong, a peer-to-peer (P2P) online lending platform that focuses on consumer finance.

Similar to Microseer, HR services platform Joyowo.com secured a RMB100 million Series B round in April from investors including Sequoia Capital, Greenwoods Asset Management and Meridian Capital.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Technology
• Support services
• Early-stage
• China
• JD.com
• IDG Capital Partners
• TMT
• CICC
• Financial Services
• Venture