Internet group Tencent has supplied more than RMB100m ($14.3m) of angel funding for China-based enterprise IT product supplier Shushi through its Tencent Investment unit, DealStreetAsia reported yesterday.
Officially known as Beijing Shushi Yunchuang Technology, Shushi has built a software platform that enables distributors of business-to-business products to create e-commerce portals for their services.
The software can create digital invoices and process purchases with a single click and allows clients to adeptly manage product ranges containing a large range of items.
Shushi was co-founded by Kefeng Li, a former employee of internet group Baidu, e-commerce firm JD.com and insurance provider Ping An. It was reportedly carved out from e-commerce group Alibaba’s China-Taiwan development task force.