Shenzhen Suishou Technology Co. Ltd., a mobile personal finance service provider, raised US$200 million from the private equity platform KKR, a New York-based investment firm.
Suishou Technology, which connects with its clients through feidee.com, said on its website that it has secured series-C round funding in September, the Chinese Securities Journal reported.
The Shenzhen-based company said it accumulated more than 300 million users and managed over 100 million bills through its flagship products including Suishouji and Cardniu, which can handle personal finance and credit card information.
The company’s financial users reached 3.5 million and it has also assisted 15 million users to pass their loan audits. The company claims itself as the largest personal fintech company in China.
Other venture capital funds involved in this round of fundraising included Sequoia Capital, Source Code Capital and Finup Co. Ltd. Ever Rich Capital Ltd., a Hong Kong-registered company, was the sole financial advisor for the deal.
Gu Feng, founder and chief executive of Suishou Technology, said in a media briefing that a new market for personal finance app operators began in 2010 — that was when he decided to leave Kingdee International Software Group Ltd.