Shenzhoufu Obtains USD 10 Mln VC Funding

Securities Daily, 8/05/09

Chinese third-party payment provider Beijing Shenzhoufu Technology Co, Ltd has received a combined USD 10 mln in second-round funding from venture capital firms Ventech and IDGVC, according to industry insiders. The funds will be used primarily to enhance cooperation with the mobile industry, improve corporate and individual customer service, expand regional product marketing and increase the functionality of its transaction system, as well as make an initial foray into the local small loans service industry.

Shenzhoufu is an e-commerce company offering e-payment and online product marketing services. In August 2008, it received USD 5 mln in first-round venture funding from IDGVC.

Keywords: funding Internet e-payment VC IDGVC Shenzhoufu third-party payment Ventech

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