Maycur Raises RMB 100 Million in Pre-B and Series B Rounds | Led by Oasis Capital

"We deeply feel that Oasis Capital is a professional investment institution that can accompany us through long-term growth!"

— Wei Meizhong, Founder of Every Moment Technology

Every Moment Technology has recently completed its RMB 100 million Pre-B and Series B financing, led by Oasis Capital (Vitalbridge).

In 2019, Every Moment Technology's revenue tripled year-over-year, serving more than 1,700 clients.

Enterprise expense management and reimbursement has become a hot investment direction in recent years. The wave of enterprise informatization has brought transformation to scenarios like financial reimbursement and business travel. These scenarios share common characteristics: they involve not only large volumes of paper and electronic documents, but also tedious interactions with internal and external systems, consuming enormous human resources.

Since its founding in 2015, Every Moment Technology launched its expense management cloud platform — Every Moment Reimbursement — starting from the enterprise financial reimbursement scenario to provide mid-to-large enterprises with travel booking, expense reimbursement management, and full-process expense control services. The reimbursement product system consists of five modules: third-party services, core expense management, bank payment integration, electronic invoices, and enterprise information system integration. It connects consumption, reimbursement, approval, financial review, cashier payment, bookkeeping, and expense analysis and management. Currently, Every Moment Reimbursement has integrated with mainstream OA and ERP software on the market, enabling seamless collaboration.

On the front end, Every Moment Reimbursement also aggregates corporate travel consumption scenarios. The platform connects with over 50 enterprise consumption platforms, including ride-hailing, hotels, and corporate procurement platforms. Employees can directly consume or procure on the platform, with reimbursement funds transferred directly to bank accounts or Alipay, saving over 90% of reimbursement data collection workload.

Media reports have noted that Every Moment Reimbursement incorporates a credit system into its reimbursement product — for example, the system initializes employees with a base score of 80, and finance staff can add or deduct points based on reimbursement behavior. Over time, employees with high credit scores can benefit from shortened approval processes, with detailed or spot review exemptions at the financial audit stage; low-scoring employees face longer approval chains, layer-by-layer review, and lower payment priority. This model significantly reduces financial staff's review workload and effectively improves audit efficiency.

In terms of product development path, Every Moment Reimbursement started with reimbursement and consumption scenarios, incorporating a credit system that enables collection of first-hand scenario and public business data. Wei Meizhong, Chairman and CEO of Every Moment Technology, stated that the collected data dimensions are rich, not only helping enterprises with expense control but also correlating consumption behavior with performance patterns, moving financial management toward business management.

To embrace the electronic invoice trend, Every Moment Technology also launched a new product "Every Moment Archives" in July last year. Leveraging cloud computing and big data technologies, it helps clients establish electronic accounting archive systems, achieving integration of "cloud finance + cloud sharing + cloud office."

This new product also aligns with multiple national policy trends. With the rapid advancement of special invoice electronicization, fiscal and tax electronicization is accelerating. The Ministry of Finance issued the "Notice on Regulating the Reimbursement, Bookkeeping, and Archiving of Electronic Accounting Vouchers" in March this year, stating that electronic forms have equal legal validity to paper forms, and electronic accounting vouchers must be archived online — meaning that regardless of how finances are reimbursed and booked, electronic reimbursement material documents must be preserved, thus rapidly opening the market for electronic archive systems.

At the product level, "Every Moment Archives" allows electronic invoices to be directly imported into the Every Moment Reimbursement system through third-party platforms (WeChat, Alipay, etc.). The system can perform OCR recognition and verification on electronic invoices and 90% of paper invoices. After online circulation, approval, and review, they are imported into the electronic archive system. During archiving, Every Moment Archives can connect with financial accounting systems (such as SAP, Kingdee, etc.) to collect and archive accounting vouchers generated by the financial system, while preserving the association between vouchers and original accounting vouchers (invoices, receipts, business documents, etc.), achieving automated voucher archiving.

At the query and security level, Every Moment Reimbursement supports freely configurable function permissions for refined personnel management. For each enterprise's specific needs, Every Moment Reimbursement also supports building personalized system interfaces, making financial operations and management more flexible and convenient.

Regarding product moats, Wei Meizhong, Chairman and CEO of Every Moment Technology, told 36Kr that the expense control and reimbursement market is still in early stages, with broad room for SaaS products. Compared to traditional reimbursement products, Every Moment Reimbursement's advantage lies in having first validated that its product can fully meet the needs of mid-to-large enterprises, establishing corresponding product and service capabilities, before expanding to small and medium-sized enterprise clients.

Second, Every Moment Technology's core team has decades of background in large enterprise IT, product, and management. Wei Meizhong stated that in terms of product thinking, Every Moment Reimbursement remains management and product design-centric. While many enterprises expand from reimbursement into TMC (Travel Management Company) and other fields, Every Moment Reimbursement's philosophy insists on standardized SaaS products as the core.

On the commercialization front, in 2019 Every Moment Technology's revenue tripled year-over-year, serving over 1,700 clients, with mid-to-large enterprises accounting for two-thirds. Clients span multiple industries including pharmaceuticals, retail, machinery manufacturing, electronics, catering, and health and wellness, with a customer dollar renewal rate of 120%. After engaging with industry characteristics, Every Moment Reimbursement abstracts general functions for clients to freely configure. In terms of pricing, Every Moment Reimbursement currently operates primarily on a SaaS product subscription model.

Following this round of financing, Every Moment Technology will continue investing in product R&D and market promotion, building channels and partnership ecosystems to accelerate business implementation.

Oasis Capital stated: "Past financial systems were essentially built around 'goods': inventory management and turnover optimization. However, across society, value transmission is upgrading from goods-centric to people-centric: people's output is 'revenue,' and people's redundancy is 'inventory.' Therefore, society urgently needs an integrated business-finance system built around 'people.' Oasis is honored to walk alongside leaders like Every Moment."

On the team, Mr. Wei Meizhong is former Vice President and CFO of Dahua Technology (002236.SZ). On April 28, 2020, Dahua Technology (002236.SZ) announced Mr. Wei Meizhong's departure. Mr. Wei published an open letter "Why Did I Go Start a Business?" (see second article).

Every Moment Technology is headquartered in Hangzhou, with a team of over 300 people. More than half of the core team graduated from Zhejiang University, with nearly twenty years of technology R&D and management experience, having worked at Dahua Technology, State Street Bank, and other enterprises. In addition to IT technology experts, there are also HR, finance, and internal audit leaders from large enterprises.

Article first published on 36Kr, author Yongyi, republished with authorization from Oasis Capital.

Oasis Capital is a new-generation venture capital institution in China, dedicated to discovering the most vital entrepreneurs of the next decade and growing alongside them to create long-term value. "Nurturing Vitality" is Oasis's vision and mission. This vitality is both the direction of structural transformation in the era and the resilience and evolutionary power of entrepreneurs. Oasis Capital focuses on early and growth-stage investments, with individual investments ranging from $3 million to $30 million, concentrating on technology-enabled services in education, healthcare, enterprise services, and other sectors, empowering China's technology-driven new service upgrade.