Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
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Chinese data service platform Beijing Zmeng Network Technology Co., Ltd. (ZMT) has completed a RMB500 million (US$72 million) series C round of financing, according to an announcement released on the company’s WeChat official account on Monday.
Founded in 2013, the Beijing-based company leverages big data to provide mobile marketing solutions to various fields including life services, automobile, real estate, education, healthcare, finance and tourism.
ZMT acquires data through smart hardware, and then integrate consumers’ offline and online database to provide analysis. The company looks into consumers’ needs to help them optimize services, marketing and management, said the company in its website.
The company offers its marketing solutions to a wide range of Chinese enterprises, including e-commerce platform Tmall, hotpot chain Haidilao International Holding Limited, online home construction material portal Easy Home and New World Department Store.
In November 2017, The company secured a RMB180 million (US$27 million) series B+ round of funding led by YunFeng Capital, a private equity firm co-founded by Alibaba Group’s executive chairman Jack Ma, following a RMB300 million (US$ 45.2 million) series B round in March 2017.
ZTM also counted a group of investors including Fuson Kinzon, IDG Capital Partners, JD Capital and Fosun Group as its backers in previous funding rounds.
The proceeds of the new round will be used to integrate the firm with artificial intelligence, cloud computing, Internet of Things and other technologies to accelerate the ecological layout in its businesses. ZTM did not disclose the investors in the new funding round.
Source: China Money Network
