Beijing based digital bookkeeping and tax services startup Hsuanzhang has raised an additional $31m Series B led by Xiaomi, after raising a $31m Series B from THG Ventures, IDG Capital, and CreditEase in October 2017.
Founded in 2014, Beijing-based Hsuanzhang helps companies with bookkeeping, invoicing, tax planning and other financial services via a cloud-based platform and mobile apps. At the end of 2017, it had over 400 offline services offices in more than 300 cities in China. The company claims that it has over 300,000 paid users. The firm previously received tens of millions of RMB from National Small And Medium-Sized Enterprises Development Fund in March 2017. In December 2016, it raised a RMB150 million (US$22 million) series A round from IDG, China Soft Capital, Jiaxing Lingchuang Fund and Chuanrong Capital.