Retail Finance SaaS Firm Tengyin Caizhi Raises Over 100 Million Yuan in Series A+ Round from Tencent and Gaorong Ventures
Fully embracing the WeCom ecosystem, committed to becoming the digital infrastructure for retail financial institutions.
Recently, Tengyin CaiZhi announced the completion of an A+ round of over 100 million RMB, led by Tencent and Gaorong Ventures. In early 2020, Gaorong Ventures had invested in Tengyin CaiZhi's Series A. This new round will further help Tengyin optimize its product matrix, continue recruiting industry talent, strengthen R&D capabilities, and rapidly launch various value-added products and supporting services.
Founded in 2019, Tengyin CaiZhi positions itself as digital infrastructure for retail financial institutions — a SaaS technology company fully embracing the WeCom ecosystem and focused exclusively on retail finance. It not only helps financial institutions find growth points within the WeChat ecosystem in the post-pandemic era, but also provides dedicated financial services to hundreds of millions of their WeChat customers.
Tengyin CaiZhi's founding team consists of senior fintech experts from Tencent, with track records of successfully building platforms processing hundreds of billions in transaction volume, alongside seasoned industry veterans. Drawing on extensive experience in financial industry customer marketing solutions, the team was named WeCom's 2020 Outstanding Partner of the Year — the only financial service provider and case exhibitor to receive this honor.
Leveraging multiple competitive advantages across product, service, technology, and traffic, Tengyin CaiZhi has within two years established partnerships with several state-owned banks and over 60% of large joint-stock banks, including China Merchants Bank, CITIC Bank, China Minsheng Bank, and China Everbright Bank, serving more than 120 domestic and international financial institutions. In driving digital transformation aimed at business growth, Tengyin CaiZhi helps financial institutions deliver commercial value with warmth, enabling brands to connect with customers and build deep trust, and empowering financial institutions to explore and construct sustainable, brand-distinctive customer engagement paradigms.
Going forward, amid the wave of industrial digitalization, Tengyin CaiZhi's collaboration with Tencent's industrial internet and WeChat can provide digital tools for the retail finance ecosystem, jointly building an ecological partnership platform for financial institutions.
Michael Mao, founding partner of Gaorong Ventures, commented: "On one hand, customer acquisition costs keep rising for enterprises. On the other hand, consumers and businesses are growing ever closer. How to effectively leverage private domains has become increasingly critical. Tengyin CaiZhi, based on its deep financial industry insights and outstanding technical capabilities, has helped financial institutions build efficient, one-stop WeChat marketing solutions. We also believe that all industries can actively embrace the WeChat ecosystem — countless individual commercial entities will reach and serve target customers with greater precision through WeChat, like capillaries, providing a steady stream of momentum for enterprises' digital transformation."
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