DataYes, a China-based provider of investment management technology, has secured about $100m in a strategic funding round led by investment manager PAG.
Founded in 2013, DataYes provides a range of data analytics, portfolio management and fund investment software tools for investment and asset management organisations. More than 2,000 financial institutions and 10 million individual investors have used its services globally.
In a press release, the company said the deal would allow it to leverage PAG’s industry and investment experience to advance its own suite of digital solutions. It also plans to expand its offering to services to government and business clients.
DataYes is affiliated with automotive components manufacturer Wanxiang Holding, which itself is a subsidiary of industrial conglomerate Wanxiang Group. The details of its earlier funding rounds could not be confirmed.
Feng Xiao, DataYes’s chairman, said: “The success of this financing round has shown that DataYes’s disruptive innovation has now not only been recognised by our clients but by world-class investment firms as well. With this capital financing, DataYes is about to stride into the next decade of innovation.”