China procurement services start-up raises $102m

Other investors include ABI Capital, Unicorn Capital Partners, Xiamen C&D Emerging Industry Equity Investment, Blue Lake Capital, Redpoint China, Eastern Bell Venture Capital, DT Capital Partners and Zhonglin Capital.

After spinning out from ChiNext-listed HAND Enterprise Solutions in 2017, Going-Link raised an RMB150 million Series A from JD.com and Z Capital. JD.com held a 35% stake after the transaction. A RMB300 million Series B was provided in October last year by Blue Lake, DT Capital, Zhonglin, Redpoint, and Eastern Bell.

Going-Link specializes in supplier relationship management (SRM), offering a one-stop digitalized solution that makes engagement processes standardized, visualized, transparent and traceable. The system aims to integrate centralized management with other business units with services such as automatically generating payment applications between accounting and treasury departments.

The company recruited more than 220 enterprises as new customers in the first three quarters of 2021. Large customers include Shanghai Jahwa, Red Star Macalline, Mingzhe Property, and Tencent Music.

The proceeds will go into four areas: global expansion, product diversification, usage scenario expansion, and delivery cost reduction. According to a statement, this will include a more proactive approach to helping client in their own expansions and thereby growing the supply chain network.

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• Topics
• Greater China
• Expansion
• Support services
• China
• DT Capital Partners
• Blue Lake Capital
• Meituan-Dianping
• Redpoint China Ventures
• Eastern Bell Venture Capital