Qiming Venture Partners Leads US$15 Million Financing Round for Hangzhou Wacai Science (Asia)

Source: Greater China Private Equity Review  |  Author(s): Raymond Tan

Venture capital firm Qiming Venture Partners has led a US$15 million Series A funding round for China-based Hangzhou Wacai Science, a mobile app developer for personal finance management. Existing shareholders venture capital firms IDG Venture Partners and CDH Investments also participated in the round. The company intends to use the fresh capital to broaden its customer base. In 2013, Wacai received US$13 million from IDG Capital and CDH Investments.