China-based e-invoicing provider Ekuaibao, has raised $154m in a series D round led by internet and telecommunications group SoftBank’s Vision Fund 2, according to DealStreetAsia.
The round also featured Tiger Global Management, Sequoia Capital, Mandra Capital and Future Capital.
Founded in 2014, Ekuaibao provides a software-as-a-service (SaaS)-based online consumption and reimbursement management platform designed to make cost control easier for businesses.
In September 2019, it raised $30m in its series C round led by Tiger Global with participation from Future Capital and DCM Ventures. It added $20m in series C-plus funding from Sequoia Capital the following month.
Mandra Capital had led a $15m series B round in January 2019 with participation from Future Capital, DCM Ventures and Yinxinggu Capital.
Details about earlier rounds could not be ascertained.
Kentaro Matsui, managing partner for SoftBank Vision Fund 2 said: “Cost control has always been a cumbersome and time-consuming process. We believe that [Ekuaibao] can help enterprises manage expenses and control costs more effectively.”
