Yunzhangfang Funding, Investors & Competitors

Yunzhangfang has raised $245M across 5 funding rounds, most recently a $100M Series E in February 2022.

Last Yunzhangfang funding round

$100M

Series E · Feb 2022

Cumulative funding Yunzhangfang raised

$245M

across 5 funding rounds

Key investors in Yunzhangfang

  • Hillhouse Investment
  • Vitruvian Partners
  • GF Qianhe Investment
  • Apax Digital
  • Conswall Capital
  • GF Investments
  • Archipelago Advisa Investment

Yunzhangfang Overview

About Yunzhangfang

Yunzhangfang is a China-based SaaS provider of finance and tax management software for micro-enterprises and small accounting firms. The platform automates data entry, reconciliation, invoice processing, and tax filing through cloud-based tools accessible via web and mobile interfaces.


Founded

2015

HQ

ChinaNanjing

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Yunzhangfang Funding History

Yunzhangfang has raised a total of $245M across 5 funding rounds.

Yunzhangfang's first fundraising round was a $1M angel round in May 2015. The most recent completed round was a $100M Series E in February 2022.

Yunzhangfang funding rounds

Yunzhangfang funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2022Series EApax Digital (lead); Conswall Capital; GF Investments; GF Qianhe Investment$100MYunzhangfang Network Technology Co., Ltd. is a China-based SaaS provider of corporate finance and tax management tools, founded in 2015. It offers automated tax reporting systems and intelligent taxation solutions using AI and internet technology to assist bookkeeping agencies and enterprises with invoice management, bank monitoring, tax filing, and risk management across 36 tax regions in China. The company serves thousands of bookkeeping agencies and has launched products for large and mid-sized enterprises. In February 2022, Yunzhangfang raised approximately $100 million in its Series E funding round, led by Apax Digital (a sub-fund of Apax Partners), with participation from GF Qianhe Investment, GF Investment (Hong Kong), and facilitation by InvesTarget. Some sources report Apax Digital's specific contribution as $60 million. The proceeds are intended for IT infrastructure, brand management, and product R&D. Apax describes Yunzhangfang as a leading player in China's accounting and tax SaaS market. The investment aligns with Apax Digital's focus on software opportunities, announced in their April 2022 dispatch and interim reports.
Dec 2019Series DVitruvian Partners (lead)$85MYunzhangfang is a Nanjing-based SaaS provider offering corporate tax management solutions, founded in 2015, serving over 1.4 million SMEs across 26 provincial regions in China as of late 2019. The company automates fiscal and taxation tools for micro-enterprises and accounting agencies, capitalizing on China's evolving taxation regulations, such as the 2019 increase in personal income tax threshold from RMB 3500 to RMB 5000 with additional deductions. It had previously raised RMB 300 million (about $42.8 million) in a Series C round led by Hillhouse Capital in November 2018. In December 2019, Yunzhangfang closed a $85 million Series D round led by UK's Vitruvian Partners, with funds allocated to R&D in robotic process automation, elastic computing, PaaS, financial knowledge graphs, marketing for client expansion, and talent acquisition. Vitruvian Partners highlighted the opportunities from China's tax reforms and tech advancements for financial SaaS growth, aiming to solidify Yunzhangfang's industry leadership.
Oct 2018Series CHillhouse Investment (lead)$43MYunzhangfang is a Nanjing-based SaaS provider founded in 2015, specializing in corporate finance and tax management, including automated tax returns, bill imports from bank statements, voucher books, and financial/tax risk monitoring. The company closed its Series C round of RMB 300 million (approximately $43 million) on October 29, 2018, led by Hillhouse Capital (also referred to as Hillhouse Investment). This followed earlier rounds: Series A in 2016, Series B in September 2017 with $14 million from Hillhouse, and a prior angel round in 2015. The Series C funding was used to invest in R&D for AI, deep learning, robotic process automation, elastic computing, PaaS, and financial knowledge graphs, as well as marketing expansion and talent hiring. By late 2019, Yunzhangfang reported serving over 1.4 million SMEs across 26 provincial regions in China, amid a market of over 30 million SMEs. Subsequent developments include a Series D round of $85 million in December 2019 led by Vitruvian Partners, and a Series E of $100 million in February 2022. The company operates in China's growing financial SaaS sector, driven by tax regulation changes like increased personal income thresholds and added deductions since 2019.
Sep 2017Series BHillhouse Investment (lead)$15MYunzhangfang is a SaaS-based platform that automates corporate finance and tax management services, including tax returns, automated tax reports, bill imports from bank statements, voucher book generation, and financial and tax risk monitoring. The company completed a Series B funding round of approximately $14 million (RMB100 million) led by Hillhouse Capital Group in September 2017. Funds were allocated to research and development in artificial intelligence and deep learning technology, as well as company expansion. Previously, Yunzhangfang raised a Series A round from Zhonglu Capital, AA Investment, and Liuhe, and in 2015 received a $910,000 investment led by AA Investment.
May 2015AngelArchipelago Advisa Investment (lead)$1M-

Who has invested in Yunzhangfang?

7 investors have backed Yunzhangfang across its funding rounds, including Hillhouse Investment, Vitruvian Partners, GF Qianhe Investment, Apax Digital, Conswall Capital and GF Investments.

Lead investors include Apax Digital, Vitruvian Partners, Hillhouse Investment and Archipelago Advisa Investment.


Yunzhangfang Investors

Investors in Yunzhangfang by funding rounds participated
InvestorHQRoundsRoleFirst check
Hillhouse InvestmentSingaporeSingapore2LeadSep 2017
Conswall CapitalChinaShanghai1ParticipantFeb 2022
Archipelago Advisa InvestmentIndonesiaSurakarta1LeadMay 2015
GF InvestmentsUnited StatesFort Lauderdale, FL1ParticipantFeb 2022
GF Qianhe InvestmentChinaBeijing1ParticipantFeb 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments by Yunzhangfang

Yunzhangfang has invested in 2 companies to date.

Latest investment by Yunzhangfang was on August 9th 2023. Yunzhangfang invested in Yiqicha in their $1M Angel round.


Latest Investments by Yunzhangfang

Yiqicha
Moxi Technology
Description
Yiqicha is a China-based enterprise credit information platform offering business data inquiries, risk monitoring, and tailored solutions. It serves financial professionals, lawyers, investors, media, salespeople, and managers with authoritative company information.
Moxi Technology is a Beijing-based SaaS provider of AI-driven accounting agency services for small businesses in China. It automates invoice processing, tax filings, and payroll via cloud dashboards integrated with WeChat Pay and Alipay. Launched in 2018, Moxi handles reconciliation for e-commerce sellers on Taobao and JD.com, flagging discrepancies with 98 percent accuracy. The platform supports multi-entity reporting compliant with SAT regulations.
HQ CountryChinaChina
HQ City
Hefei
Shanghai
Deal Date9 Aug 202317 Jan 2019
RoundAngelAngel
Raised$1M$800K
Investors--
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Yunzhangfang Competitors

Yunzhangfang competitors include listed companies like Workday, Sage, TOTVS and Freee, and private ones like Pennylane and HighRadius.

Public and private companies comparable to Yunzhangfang
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
WorkdayUnited StatesUnited StatesPublicly listed$9.6B$1.2B$48B4.7x
SageUnited KingdomUnited KingdomPublicly listed$3.4B$1B$12B3.9x
PennylaneFranceParisPrivate$115M-$4.3B37.0x
TOTVSBrazilBrazilPublicly listed$1.1B$318M$3.8B3.2x
HighRadiusUnited StatesHouston, TXPrivate$70M-$3.1B-
FreeeJapanJapanPublicly listed$214M$6M$1.5B4.8x

Yunzhangfang Public Comps

Yunzhangfang is still privately-owned, but its public comps include Oracle, SAP, Salesforce, Intuit, Workday, Roper Technologies, Corpay, OBIC, Tyler Technologies and Sage.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Oracle$67B$33B8.6x7.8x17.7x13.9x
SAP$42B$13B5.8x5.4x18.4x17.1x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
Intuit$21B$6.9B4.0x3.9x12.2x9.1x
Workday$9.6B$1.2B5.1x4.7x42.0x14.2x
Roper Technologies$7.9B$3.2B6.1x5.7x15.2x14.6x
Corpay$4.5B$2.4B7.6x6.8x14.1x12.7x
OBIC$869M$688M14.8x14.2x18.7x20.9x

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Common questions about Yunzhangfang

When was Yunzhangfang founded?Yunzhangfang was founded in 2015.
Where is Yunzhangfang headquartered?Yunzhangfang is headquartered in Nanjing, China.
Is Yunzhangfang publicly listed?No, Yunzhangfang is a private, VC-backed company.
How much funding has Yunzhangfang raised?Yunzhangfang has raised $245M across 5 funding rounds.
What was Yunzhangfang's last funding round?Yunzhangfang's last funding round was a $100M Series E in February 2022, led by Apax Digital.
Who are Yunzhangfang's investors?Yunzhangfang's investors include Hillhouse Investment, Conswall Capital, Archipelago Advisa Investment, GF Investments, GF Qianhe Investment, Vitruvian Partners and Apax Digital.
Which companies are comparable to Yunzhangfang?Companies comparable to Yunzhangfang include Workday, Sage, Pennylane, TOTVS, HighRadius and Freee.
How many companies has Yunzhangfang invested in?Yunzhangfang has invested in 2 companies, including Yiqicha and Moxi Technology.
What was Yunzhangfang's last investment?In August 2023, Yunzhangfang invested in Yiqicha's $1M angel round.

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