IDG Capital Partners, the corporate venturing unit of the IDG research group, has invested close to $10m in Wacai, a Chinese personal finance app developer. The series A round follows on from a June 2011 angel investment of close to 10 million yuan ($1.6m), bringing its funding to date at about $11.6m.
Wacai, a Chinese personal finance app developer, has raised approximately $10m from IDG Capittal Partners, the corporate venturing unit of the IDG research group, in a series A round. The company has raised approximately $11.6m to date.
According to the technology trade press, the company has developed two products including a bookkeeping service called Wacai and a credit card manager. The bookkeeping app, launched in late 2009, claims to have 40 million users. According to Technode, in July a mutual…
