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XiaoETong raised $120M in Series C Round led by Hillhouse Capital

xiaoetong 120m series capital

XiaoETong, a Chinese firm for business solutions, has confirmed funding of $120 million. The investors include IDG Capital, Hillhouse Capital, Qiming Venture Partners, and GGV Capital. The Series C exercise also saw Tencent putting money into the company.

The company is based in Shenzen. It offers digital services for integrating digital traffic, brand marketing, sales channels, and more into the ecosystem, with a focus on the WeChat framework. The company aims at offering a platform to business entities where they can seamlessly enjoy one-stop and one-place digital activity management.

With these funds, XiaoETong will be scaling up its investments in enhancing overall R&D, while also recruiting better talent. This will help it improve its products considerably. The company has also notched up an impressive user base of 1.6 million people till date. Some of its leading clients include China Asset Management, Tencent University, and New Oriental Education. There are multiple enterprise clients as well. They have already created 20 million+ products or new processes through the XiaoETong platform. This has already touched 780 million global consumers exchange rates of euro to egyptian pound.

It is also ensuring training programs for staff at client entities, on tapping varied WeChat features for e-commerce, communications, and brand marketing, while also setting up local service divisions for client support in varied sectors. The platform also ensures support for media-based apps which are already preferred for posts, such as the likes of Kuaishou, and Douyin, for instance.

While it began its journey as a content production platform, XiaoETong has already been faithful to its objective of transforming into a CTO, albeit virtual, for its clients. The company has also taken advantage of new opportunities throughout the WeChat framework, in tandem with live-streaming and private domain-based traffic. The company is delighted to see the team enabling companies to keep transforming digitally with future expansion drives. It is also accelerating the adoption of its products with a view towards innovating. This was confirmed by IDG Capital Partner, Niu Kuiguang.