Edianzu, a China-based IT equipment leasing provider backed by payment processing firm Lakala, raised $60m on Tuesday in a series D round backed by venture capital firm Source Code Capital.
An unnamed sovereign wealth fund also participated in the series D round, which the company said increased its overall funding to RMB900m ($130m).
Founded in 2015, Edianzu leases IT and office equipment such as computers, printers and air filters to more than 20,000 corporate clients. It also offers same-day installation and maintenance services across 10 cities in China.
The funding will drive an expansion by Edianzu into additional Chinese cities. An unnamed subsidiary of Lakala contributed to a $32m series C round for the company in March this year that was led by Source Code Capital and backed by Shunwei Capital, Matrix Partners China and A Plus Capital.
Lakala also took part in the company’s $18m series B round in October 2017 together with Matrix, A Plus and Shunwei. It had previously led a $10m pre-series B round for Edianzu in January 2017 that also featured Shunwei and Matrix.
