China-based online payment technology provider Ping++ has secured ‘tens of millions of dollars’ in a series B round co-led by electronics manufacturer Shengjing Technology.
Shenging co-led the round with investment firm China Broadband Capital, with participation by venture capital firms Sequoia Capital and Linear Ventures, both of which were existing investors. It has not disclosed details of its series A round.
Ping++ has built an online payment platform and a payment software development kit, integrating third-party payment channels like WeChat payment and AliPay into a single interface.
The company has over 6,300 clients, most of which come from the online marketplace, internet finance, online-to-offline and gaming sectors. It will use the funding to expand its team, strengthen its platform and grow its product offering.