Fenbeitong Hits Unicorn Status, Raising $140M Series C+ Led by DST – QNT Press Release

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China corporate spend start-up Fenbeitong has raised $140 million in a Series C+ Funding round, becoming the latest unicorn in the China SaaS industry. The funding round was led by DST Global. Existing investors Hillhouse, Ribbit, Stau, Glade Brook, and Bit Rock were joined by new investors including D1 Capital Partners, WhaleRock, Saudi Aramco’s P7 Ventures, and Emergence, bringing the total investment raised to date to $300 million. Yuanyi Capital was the exclusive financing adviser of this round.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220216006319/en/

Fenbeitong Product Model (Graphic: Business Wire)

The high-profile new investors in this round are…

Full story available on Benzinga.com

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