Huiliyani, the China-based developer of a software platform for business travel management, secured RMB300m ($42.3m) in series C-plus funding from backers including telecommunications and internet conglomerate SoftBank on Sunday.
The round was led by investment bank China Renaissance’s Huaxing Growth Capital Fund and also featured Blue Lake Capital and Zhongmi Capital. SoftBank participated through corporate venturing vehicle SoftBank China Venture Capital (SBCVC).
Spun off from IT consulting firm Hand in 2016 and incorporated as Shanghai Zhenhui Information and Technology, Huilianyi has created a cloud-based business travel and expenses reimbursement platform that enables employees to upload invoices and be reimbursed for expenses.
The technology can be integrated with existing office automation and human resources systems to facilitate accounting workflows and ensure compliance.
The capital will drive international expansion efforts, adding to an existing overseas presence in the US, Japan, Malaysia and Singapore. It will also support the launch of Chaojibaoxiao, a version of the platform specifically aimed at small and medium-sized enetrprises in China.
SBCVC led a $14.5m series C round for Huilianyi in December 2018, having already contributed to a $7.9m series B round together with Blue Lake Capital and Zhongmi Capital in March the same year. Huilianyi does not appear to have released details of its series A financing.
