Yunzhangfang, a China-based software-as-a-service (SaaS) tax platform, received approximately $100 million in its Series E round led by private equity firm Apax Partners sub-fund Apax Digital.
The round was joined by GF Securities’ GF Qianhe and GF Investment (Hong Kong). Boutique investment bank InvesTarget facilitated the transaction, announced in a WeChat post.
The company plans to use the proceeds towards IT infrastructure, brand management, product R&D, among others.
Company: Yunzhangfang Network Technology Co., Ltd.
Raised: $100.0M
Round: Series E
Funding Month: February 2022
Lead Investors: Apax Partners sub-fund Apax Digital
Additional Investors: GF Securities’ GF Qianhe, GF Investment (Hong Kong) and InvesTarget
Company Website: https://yunzhangfang.com/
Software Category: Corporate finance and tax management software-as-a-service (SaaS)
About the Company: YunZhangFang is a corporate finance and tax management software-as-a-service (SaaS) provider intended to offer integrated and automatic finance and taxation management tools. Since its inception in 2015, Yunzhangfang has been engaged in using digital approaches to help corporates with their tax and financial management. The company develops and sells automatic tax reporting systems and other products. As the leading company in intelligent taxation, Yunzhangfang focuses on helping the bookkeeping and accounting agencies to succeed. By combining internet technology, artificial intelligence with the data collection of taxation, Yunzhangfang provides the enterprises with more intelligent and automatic taxing solutions, which could lower the taxation cost and increase the effectiveness. Yunzhangfang focuses on SaaS (Software-as-a-Service) in the taxation industry, with various functions provided for its clients. The firm claims to offer its services across 36 tax regions in the country.
Source: https://www.dealstreetasia.com/stories/chinas-tax-saas-platform-yunzhangfang-snags-nearly-100m-in-series-e-round-281976