Yincheng Network Technology
Online financing platform for supply chain bills.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
$76.3m | Series C | ||
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | - | 163 % |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Jiangsu Yincheng Network Technology Co., Ltd., established on July 18, 2012, is a fintech company based in Nanjing, China. The company was founded by CEO Cao Shijin and co-founder and CTO Qian Haichuan. Yincheng Network Technology operates as a leading third-party financial technology service platform in China, focusing on the supply chain finance sector.
The company's core business revolves around its two main platforms, Tongcheng Bill Network (tcpjw.com) and Huicheng (hchpj.com). These platforms address different needs within the bill financing market. Tongcheng Bill Network facilitates the circulation and payment of acceptance bills between enterprises, while Huicheng connects enterprises with banks and non-bank financial institutions for acceptance bill financing. The business model is designed to digitize and streamline the traditionally complex process of bill financing by directly connecting bill holders with a wide range of funding sources. This approach tackles issues like information asymmetry, long processing times, and high costs associated with traditional, multi-layered intermediary channels.
The company serves a large client base of small and medium-sized enterprises (SMEs) by providing them with more efficient and cost-effective financing solutions. In 2020, the platform facilitated the financing of 6.24 million small-denomination acceptance bills, with a total transaction volume close to 2 trillion CNY, representing a nearly threefold increase from 2019. Yincheng Network has secured significant funding from various investors. Its Series C funding round in March 2021 raised 500 million CNY, co-led by Hillhouse Capital and DCM, with participation from other new and existing investors including Tangzhu Capital, Huagai Capital, and Matrix Partners China.
Keywords: supply chain finance, bill financing, fintech, acceptance bills, online financing, SME financing, B2B platform, financial technology, corporate finance, peer-to-peer lending, digital finance, commercial paper, promissory notes, trade finance, Nanjing, Cao Shijin, Tongcheng Bill Network, Huicheng, bill discounting