Wacai
19F, Internet Finance Building No. 96 Huaxing Road, Hangzhou, Zhejiang, 310012, China
Overview
Wacai is a Chinese mobile app developer and the creator of a personal finance management mobile app. The app has two major functions. One, to serve as a bookkeeping service (launched in 2009) and two, a mutual fund trading feature that was added in July of 2013. Its most recent feature, incorporated in April of 2014, is a credit card manager, which is gaining popularity in the Chinese markets. The app currently has over 40 million users.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 2
Sector focus
- Finance
- Financial Services
- Information Technology
- Mobile Apps
Investment portfolio
- Tianrang
Participated · Equity · Aug 2018
Tianrang builds enterprise data-analysis and smart solutions powered by deep learning and other AI technologies. The company says it can automatically collect and analyze marketing trends and purchase-related information on Alibaba’s e-commerce platform to help vendors make better marketing decisions. Tianrang was founded in 2016 by Xu Guirong, a former director of Alibaba’s Ali Cloud and chief scientist at Alimama’s cloud platform. The startup has raised a $26 million funding round and earlier completed an angel round in 2016 led by Gaorong Capital with participation from Shanghai Jindi Investment Management Ltd. Investors in the latest round include lead Gaorong Capital and co-lead CMB International Capital, with Ziniu Fund and fintech firm Wacai also participating. Tianrang plans to launch a project applying machine learning to urban development, led by Jessie Li of the Pennsylvania State University College of Information Sciences and Technology.