Tencent-backed Fintech Company Linklogis Obtains More than $220M in Series C Round Financing
Shenzhen-based supply chain fintech firm Linklogis has obtained more than USD$220 million in funds from its series C round financing.
Singaporean sovereign wealth fund Government Investment Corporation (GIC) led the financing, with other investors including GLP, Skyworth, China Oceanwide, Welight, Bertelsmann Asia Investment, Tencent, Citic Capital and Loyal Valley Capital.
Linklogis was established in 2016, and specialises in the use of big data, artificial intelligence and blockchain technology to solve the supply chain financing challenges of China’s small and micro-enterprises.
The company received almost 100 million yuan from Tencent, CITIC Capital and Loyal Valley Capital in series A round financing held in August 2016.
Series B round financing held in August 2017 brought in another 200 million yuan from investors including Bertelsmann Asia Investments, China Merchants Innovation Investment Management, Tencent, CITIC Capital and Loyal Valley Capital.
The Shenzhen-based company teamed up with Tencent’s fintech team to launch financial blockchain platform TrustSQL in April 2017, which provides blockchain cloud services and enterprise-class blockchain infrastructure.