EKuaibao Funding, Investors & Competitors

EKuaibao has raised $226M across 5 funding rounds, most recently a $154M Series D in August 2021.

Last EKuaibao funding round

$154M

Series D · Aug 2021

Cumulative funding EKuaibao raised

$226M

across 5 funding rounds

Key investors in EKuaibao

  • DCM Ventures
  • FutureCap
  • Tiger Global
  • Mandra Capital
  • Sequoia Capital
  • SoftBank Group
  • HSG
  • Yinxinggu Capital

EKuaibao Overview

About EKuaibao

EKuaibao is a Beijing-based SaaS provider of enterprise expense management software. The platform handles procurement approvals, receipt digitization, and reimbursement workflows for Chinese corporations. EKuaibao integrates with WeChat and Alipay for real-time transaction processing and compliance reporting.


Founded

2014

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

EKuaibao Funding History

EKuaibao has raised a total of $226M across 5 funding rounds.

EKuaibao's first fundraising round was a $2M seed round in May 2015. The most recent completed round was a $154M Series D in August 2021.

EKuaibao funding rounds

EKuaibao funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2021Series DSoftBank Group (lead); Mandra Capital; Future Capital; Sequoia Capital; Tiger Global$154MEKuaibao is a China-based e-invoicing provider founded in 2014, offering a software-as-a-service (SaaS) platform for online consumption and reimbursement management to simplify cost control for businesses. The company raised $154 million in its Series D funding round around August 2021, led by SoftBank Vision Fund 2, with participation from Tiger Global Management, Sequoia Capital, Mandra Capital, and Future Capital. This round follows prior financings, including a $30 million Series C in September 2019 led by Tiger Global with Future Capital and DCM Ventures, a $20 million Series C-plus from Sequoia Capital in October 2019, and a $15 million Series B in January 2019 led by Mandra Capital. The total funding raised across seven rounds reaches $225.55 million, with the Series D being the largest at $154 million. SoftBank Vision Fund 2 managing partner Kentaro Matsui highlighted EKuaibao's potential to improve enterprise expense management and cost control. The investment aligns with strong fintech funding trends in Q3 2021, where global fintech deals reached $31.1 billion, though EKuaibao's SaaS e-invoicing focus positions it in enterprise software for financial operations rather than pure fintech plays like payments.
Oct 2019Series CHSG (lead); Tiger Global (lead); FutureCap; DCM Ventures$50MEkuaibao is a Beijing-based SaaS provider of digital expense management solutions, offering one-stop procurement cost control and employee reimbursement services launched in 2015. It serves over 175,000 enterprises including Greenland Holdings, Tiffany & Co., and Costa Coffee, partnering with Alibaba's DingTalk, Tencent's WeChat, and Tongcheng. In September 2019, it raised USD 30 million in Series C led by Tiger Global (referred to as Tiger Management), with DCM Ventures and Future Capital participating. Separately, Sequoia Capital China invested USD 20 million in a Series C+ round around the same period, bringing total fresh funding to USD 50 million. The funds support platform upgrades for e-reimbursement, business expansion, and recruitment. Previously, it raised USD 15 million in Series B in January from Mandra Capital. Ekuaibao leads China's digital expense management sector amid rising demand from economic slowdown and e-invoicing tech, competing with SAP Concur, Yunkuaibao, and Huilianyi.
Jan 2019Series BMandra Capital (lead); FutureCap; DCM Ventures; Yinxinggu Capital$15MEKuaibao is a Beijing-based SaaS platform providing digital expense management, procurement cost control, and employee reimbursement solutions for enterprises. Launched in 2015, it serves over 175,000 enterprises including Greenland Holdings, Tiffany & Co., and Costa Coffee, partnering with Alibaba’s DingTalk, Tencent’s WeChat, and Tongcheng. In January 2019, EKuaibao raised $15 million in its Series B round led by Mandra Capital, with participation from DCM Ventures, Future Capital (FutureCap), and Yinxinggu Capital. The funding supported the company's growth in China's digital corporate cost management sector, which gained investor interest amid economic slowdown and e-invoice adoption. EKuaibao competes with SAP Concur, Yunkuaibao, and Huilianyi, positioning as the top player in digital expense management. Subsequent rounds included a $30 million Series C in September 2019 led by Tiger Management and a $20 million Series C+ from Sequoia Capital China, followed by a Series D.
Oct 2016Series ADCM Ventures (lead)$5M-
May 2015SeedGeekFounders; FutureCap$2M-

Who has invested in EKuaibao?

10 investors have backed EKuaibao across its funding rounds, including DCM Ventures, FutureCap, Tiger Global, Mandra Capital, Sequoia Capital and SoftBank Group.

Lead investors include SoftBank Group, HSG, Tiger Global, Mandra Capital and DCM Ventures.


EKuaibao Investors

Investors in EKuaibao by funding rounds participated
InvestorHQRoundsRoleFirst check
FutureCapChinaBeijing3ParticipantMay 2015
DCM VenturesUnited StatesSan Francisco, CA3LeadOct 2016
Mandra CapitalHong KongHong Kong2LeadJan 2019
Tiger GlobalUnited StatesNew York City, NY2LeadOct 2019
SoftBank GroupJapanTokyo1LeadAug 2021
GeekFoundersChinaBeijing1ParticipantMay 2015
Future CapitalGermanyFrankfurt1ParticipantAug 2021
Sequoia CapitalUnited StatesSan Francisco, CA1ParticipantAug 2021

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EKuaibao Competitors

EKuaibao competitors include listed companies like Intuit and Workday, and private ones like Rippling, Qualia, Juniper Square and Ramp.

Public and private companies comparable to EKuaibao
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RipplingUnited StatesSan Francisco, CAPrivate$570M-$17B29.5x
QualiaUnited StatesSan Francisco, CAPrivate$65M-$1.5B22.9x
Juniper SquareUnited StatesSan Francisco, CAPrivate$108M-$1.1B10.2x
IntuitUnited StatesUnited StatesPublicly listed$21B$6.9B$84B3.9x
WorkdayUnited StatesUnited StatesPublicly listed$9.6B$1.2B$48B4.7x
RampUnited StatesNew York City, NYPrivate$1.4B-$44B31.4x

EKuaibao Public Comps

EKuaibao is still privately-owned, but its public comps include SAP, Intuit, Workday, Constellation Software, Corpay, SS&C Technologies, Sage, Xero, Topicus and ServiceTitan.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SAP$42B$13B5.8x5.4x18.4x17.1x
Intuit$21B$6.9B4.0x3.9x12.2x9.1x
Workday$9.6B$1.2B5.1x4.7x42.0x14.2x
Constellation Software$12B$2.5B4.0x3.5x18.5x12.9x
Corpay$4.5B$2.4B7.6x6.8x14.1x12.7x
SS&C Technologies$6.3B$2.1B4.2x3.9x12.4x10.0x
Sage$3.4B$1B4.2x3.9x13.6x14.5x
Xero$1.6B$454M5.3x4.5x18.4x17.4x

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Common questions about EKuaibao

When was EKuaibao founded?EKuaibao was founded in 2014.
Where is EKuaibao headquartered?EKuaibao is headquartered in Beijing, China.
Is EKuaibao publicly listed?No, EKuaibao is a private, VC-backed company.
How much funding has EKuaibao raised?EKuaibao has raised $226M across 5 funding rounds.
What was EKuaibao's last funding round?EKuaibao's last funding round was a $154M Series D in August 2021, led by SoftBank Group.
Who are EKuaibao's investors?EKuaibao's investors include FutureCap, DCM Ventures, Mandra Capital, Tiger Global, SoftBank Group, GeekFounders, Future Capital, Sequoia Capital, HSG and Yinxinggu Capital.
Which companies are comparable to EKuaibao?Companies comparable to EKuaibao include Rippling, Qualia, Juniper Square, Intuit, Workday and Ramp.

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