Tencent leads USD 141 mln funding round in e-invoicing provider Golden

Monday 21 October 2019 14:37 CET | News

China-based e-invoicing company Hainan Golden has completed USD 141 million in a series B round of funding led by Chinese tech company Tencent.

Investment company Hillhouse Capital, Chinese conglomerate Wanda Group, investment firm IDG Capital and Beijing-based investment fund Prometheus Capital. Founded in 2017, Golden is focused on electronic invoicing (e-invoicing), covering small procedures invoicing, invoice head assistant, scanning code invoicing, public number invoicing and payment after invoicing. It has developed an e-invoicing service platform called WeTax.

Based on blockchain and four certificates, including ID card, transaction certificate, payment voucher and invoice document, Golden combines issuing, receiving, preserving and verifying invoices in one system.

Proceeds will be used to invest in the research of blockchain, cloud computing and big data to build the risk management system for the digitization of taxation. It will also be used to develop customized e-invoicing solutions for different industry.

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Keywords: Hainan Golden, Tencent, China, e-invoicing, funding round, Asia, APAC, electronic invoice, procurement, business process automation, banking and fintech
Categories: Banking & Fintech
Countries: China
This article is part of category

Banking & Fintech