China Deal Monitor: DCM, Matrix and Huagai invest $21m in Tcpjw and more updates

Funding Rounds

▤ Summary

Nanjing-based e-invoicing supply chain platform Tcpjw.com has raised 150 million yuan ($21 million) as part of its Series B, B+ rounds from MatrixPartners China, DCM and top asset management firm Huagai Capital, according to a company statement on Tuesday. Tcpjw, founded in 2012 and managed by Jiangsu Yincheng Network Technology, is one of the largest e-invoicing supply chain platforms in China. Using big data, cloud and fintech innovation, Tcpjw creates a transparent online trading platform for enterprises to manage efficiency. As of 2019, the company generated about 2 trillion e-invoicing tickets while it claims to have helped reduce costs by 1.4 billion yuan ($200 million) for China’s small to medium-sized enterprises. DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 17, 2020.

$ Funding

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Amount $21.4M Total raised
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Date March 17, 2020 Announcement date
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Investors Matrix Partners China, DCM Ventures Lead investors
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Company https://www.tcpjw.com/ Funded company

▥ Classifications

industries
No industries detected
applications
Collaboration & Communication

◇ AskAI Classifications

Labels
Software Communication Software SaaS

▦ Linked Companies

Matrix.org
$1M to $5M