Packaged food manufacturer Jinzi Ham has led a RMB 150m ($24.2m) series B round for Weimob, a China-based third-party marketing services provider for messaging service Wechat, China Money Network reported yesterday.
Jinzi Ham, which invested $20.3m, was joined by private equity firm Meridian Capital China and an unnamed private investor. The series B funding reportedly values Weimob at about $130m.
Meridian previously provided RMB 30m in series A funding for Weimob in July 2014. Weimob reportedly also closed an undisclosed angel round the preceding year.
Weimob operates a software-as-a-service platform which helps businesses with the development and management of promotional tools for Wechat, a messaging service produced by internet company Tencent with several hundred million users.