VCs back Chinese expense management start-up
Fenbeitong, an enterprise payment and expense management services provider based in Beijing, has raised $36 million in an extended Series B round led by Ribbit Capital, Eight Roads Ventures and Glade Brook Capital.
Existing investors IDG Capital, China Growth Capital and Chinese Fintech group CeditEase re-upped in the round. Founded in 2016 by Xi Lan, formerly of IDG, Fenbeitong raised a RMB70 million ($10 million)...
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