Alibaba and Tencent have reportedly supplied $77m in funding for Baiwang, though the electronic billing software producer has disputed the size of the round.
China-based electronic billing software producer Baiwang has raised RMB517m ($77m) in a series A round led by e-commerce firm Alibaba, TechWeb has reported.
Alibaba invested $47.2m to lead the round, while internet group Tencent provided an additional $29.8m. Baiwang has however told another online publication, Sina Tech, that the amounts are inaccurate, without offering additional details.
Founded in 2015, Baiwang has developed cloud-based software that enables financial institutions, insurance firms, real estate developers, retail outlets and e-commerce companies to use…
