Fenbeitong Raises $140M in Series C+ Funding
Summary
Fenbeitong, a Beijing, China-based corporate spend provider, raised $140M in Series C+ funding, reaching an unicorn status. The round, which brought total investment raised to date to $300m, was led by DST Global, with participation from Hillhouse, Ribbit, Stau, Glade Brook, Bit Rock, D1 Capital Partners, WhaleRock, Saudi Aramco’s P7 Ventures, and Emergence. The company intends to use the funds to further product capabilities, opening new markets, and expanding the team. Led by CEO Henry Lan, Fenbeitong is a corporate spend startup which leverages a “SaaS+Payment” model. FinSMEs
Funding
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