Source Code Capital portfolio company Lingxing announced the completion of a 280 million yuan Series C funding round, with existing shareholder Source Code Capital continuing to increase its stake.

On December 15, Lingxing, a cross-border e-commerce SaaS provider, announced the completion of a 280 million yuan Series C funding round. The round was led by Xiang He Capital, with follow-on investments from existing shareholders Source Code Capital, Hillhouse, Shunwei Capital, and Eastern Bell Capital. Taihe Capital served as the exclusive financial advisor. Source Code Capital has backed the company since its Series B round and continued to increase its investment in this round.

Founded in 2017, Lingxing is dedicated to providing cross-border e-commerce sellers with solutions for refined operations and integrated business-finance management. The company currently serves more than 100,000 cross-border e-commerce enterprises, leading the industry in both the number of publicly listed cross-border e-commerce companies and billion-yuan-scale sellers served. In 2021, its business grew by more than 200%. Lingxing's team now exceeds 700 people, with localized service centers in more than 20 cities across China. In 2021, Lingxing received national high-tech enterprise certification and national information security level protection certification, maintaining high R&D standards to provide enterprises with secure and reliable information services.

As cross-border e-commerce continues to develop, branding and refined management have become industry consensus. Lingxing's cross-border e-commerce ERP covers modules including financial profit accounting, intelligent replenishment, supply chain management, advertising placement, and customer service operations. By helping enterprises achieve refined control over people, goods, and finances, as well as data-driven decision-making, it facilitates efficient internal collaboration and enhances the core competitiveness of cross-border e-commerce sellers.

Products and services are Lingxing's core competitive advantages. The company consistently adheres to a product service philosophy of "professionalism, excellence, and reputation." Drawing on its deep understanding of the cross-border e-commerce industry, Lingxing continuously iterates its standardized products at a rapid pace, incorporating industry-leading management practices into system function design to benefit more cross-border e-commerce enterprises. At the same time, standardized products can integrate with enterprises' internal systems to quickly build full-chain, full-scenario digital capabilities. The company provides tailored system usage solutions based on each customer's needs and usage scenarios, ensuring their business problems are solved. Lingxing hopes to accompany customers' growth through professional service and create long-term value for them.

Yuan Di of Source Code Capital said: "Against the backdrop of rapid growth in supply chain globalization, SaaS ERP as a critical piece of infrastructure services is becoming increasingly important. Over the past four years, Lingxing has consistently adhered to a product-first, service-oriented approach, continuously creating value for customers' digital capability building and competitiveness enhancement, while driving the industry's overall informationization level forward. We look forward to Lingxing continuously iterating its products, breaking boundaries, and creating new possibilities in the wave of supply chain and brand globalization."

Going forward, Lingxing will remain focused on enabling efficient collaboration across critical links in the cross-border e-commerce industry through its SaaS products, helping Chinese brands expand globally.

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