|
Tuesday, 14 December 2021, 10:58 HKT/SGT | |
| |
|
|
HONG KONG, Dec 14, 2021 - (ACN Newswire) - Yeahka (09923.HK)'s portfolio company Fshi Technology (Shenzhen) Co., Ltd ("Fshi Technology"), announced the completion of its Series B funding. It is reported that the investor of this financing round is RYK Capital Partners Limited, with an investment amount of US$21 million (RMB134 million).
The proceeds will be put towards general working capital, product development, marketing, daily liquidity needs as well as acquisitions. This round of funding for Fshi Technology was its third round of financing this year, following its over RMB 100 million Series A funding in February and nearly RMB100 million in Series A+ funding in March.
Meanwhile, Fshi Technology announced the acquisition of 60% equity of Shenzhen Zhizhanggui Cloud Service Co., Ltd. ("Zhizhanggui") by means of cash and newly issued equity. According to Fshi Technology, the acquisition of Zhizhanggui will equip it with the standardized infrastructure of "hardware + software," which will become the cornerstone for Fshi's development. It will further accelerate the development of its open SaaS strategy through integrating mature SaaS modules into offline merchants.
After the completion of the Series B funding and the acquisition of Zhizhanggui's equity, Fshi Technology will focus on market expansion. It will increase its market share by exploring merchants' demands and refining its products and services. To promote digital transformation, Fshi Technology will provide merchants with one-stop smart operation solutions, covering areas such as payment, marketing, management and other intelligent business solutions, through the use of payment as an entry point and deployment of scenario-based solutions, AI and Big Data analytics.
According to public information, Fshi Technology was established in 2016 and is committed to becoming China's largest one-stop digitalized platform for merchants. Its SaaS open platform "Haoshengyi" has integrated with various SaaS industry applications including CRM and marketing. It has penetrated into various use case scenarios including food and beverage, retail, apparel, lifestyle services, and entertainment, providing comprehensive SaaS products and services ranging from membership management, food ordering, kitchen management, supply chain management, fintech to interactive marketing, etc.
In 2019, Hong Kong-listed Yeahka (09923.HK) invested in Fshi Technology, making it a key member of Yeahka's ecosystem. Through "Haoshengyi," its merchant SaaS digital platform, Fshi Technology explores merchants' needs and provides services to merchants together with Yeahka.
Leveraging the management experience and technological capabilities of Yeahka, Fshi Technology has also further strengthened the product matrix of "Haoshengyi" and team management, enabling it to provide in-depth digital services to more merchants. The completion of Series B funding fully demonstrates the potential of the merchant services market and the potential of Fshi Technology's SaaS digital platform.
Currently, Fshi Technology's "Haoshengyi" open platform has covered 30+ cities and regions and served over 700,000 merchants.
This round of funding has given Fshi Technology strong capital backing, and the acquisition of Zhizhanggui has further optimized its product matrix. The continued expansion of capital resources will further strengthen the financial capabilities of Fshi Technology and expand its business, enabling Yeahka to provide better services to merchants and consumers as well as to develop a more sustainable technology-enabled business model.
Topic: Press release summary
Sectors: Cards & Payments, Cloud & Enterprise
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
Latest Press Releases
Katalon Officially Launches TrueTest(TM) - The First AI-Native Testing System That Thinks Like a Tester and Learns from Users
Apr 30, 2025 16:20 HKT/SGT
|
|
|
Melbourne's Deputy Lord Mayor shares city's path forward at PropertyGuru Asia Property Awards (Australia) launch
Apr 30, 2025 15:00 HKT/SGT
|
|
|
Eisai Representative Corporate Officer and CEO Haruo Naito Awarded the Order of the Rising Sun, Gold and Silver Star
Wednesday, April 30, 2025 1:17:00 PM
|
|
|
FWD Group extends partnership with JA Worldwide for its award-winning financial literacy programme
Apr 30, 2025 12:42 HKT/SGT
|
|
|
Ministry of Hajj and Umrah Emphasizes: 'No Hajj Without a Permit'
Apr 30, 2025 09:30 HKT/SGT
|
|
|
Global Sports Brand U.S. Polo Assn. Delivers Record $2.5 Billion in Retail Sales for 2024, Targets $3 Billion and 1,500 U.S. Polo Assn. Stores
Apr 29, 2025 19:00 HKT/SGT
|
|
|
Mitsubishi Shipbuilding Holds Christening and Launch Ceremony of Large Car Ferry KEYAKI in Shimonoseki
Tuesday, April 29, 2025 4:24:00 PM
|
|
|
Open Dialogue 'Future of the World. New Platform for Global Growth' Launches at Russia National Centre
Apr 29, 2025 15:00 HKT/SGT
|
|
|
The Apipatana Foundation Donates S$50,000 to Support Lower-Income Students in Singapore
Apr 29, 2025 15:00 HKT/SGT
|
|
|
DataBurning and Vumonic Announce Strategic Partnership for India E-Receipt Data
Apr 29, 2025 12:36 HKT/SGT
|
|
|
|
More Press release >> |
|
|
|