China-based supply chain financing provider Linklogis has received RMB200m ($30m) in series B funding from investors including internet company Tencent and media group Bertelsmann, China Money Network reported today.
China Merchants Venture Capital Management, Citic Capital and Loyal Valley Innovation Capital also took part in the round. Bertelsmann invested through corporate venturing subsidiary Bertelsmann Asia Investments.
Linklogis supplies financing for micro and small enterprises in need of cash to support the supply chains necessary to get their products to the public.
The company has created its own proprietary risk and assessment software to assess prospective borrowers based on their operations and supply chain data, and the technology can also help the small businesses function more efficiently.
Linklogis was founded in 2016 and raised RMB100m from Tencent and Loyal Valley a year ago this month, according to China Money Network. The series B capital will go to improving its asset service system and risk control technology.