Loading organizations...
§ Private Profile · Beijing, China
SaaS+Payment platform for corporate spend management, handling travel, dining, procurement, and budgeting for corporations in China.
Fenbeitong is a Beijing, China-based enterprise software company that provides a combined SaaS and payment platform for corporate spend management. The platform integrates software subscriptions with direct payment processing to handle various business expenses, including corporate travel, dining, procurement, budgeting, and employee reimbursements. The company has achieved unicorn status with a valuation exceeding $1 billion after raising approximately $300 million in total funding across multiple venture rounds. Fenbeitong currently serves over 1,000 corporate clients across the biomedical, retail, and technology sectors, featuring notable customers like Genki Forest. To support its expanding operations across multiple Chinese cities, the organization has scaled its workforce to over 1,000 employees and secured backing from prominent institutional investors such as DST Global, Hillhouse, and Tencent. Fenbeitong was officially founded in 2016 by founder and chief executive officer Henry Lan.
Fenbeitong has raised $280.0M across 5 funding rounds.
Fenbeitong has raised $280.0M in total across 5 funding rounds.
Fenbeitong is a Beijing-based fintech company specializing in corporate spend management, offering an integrated platform for expense control, travel management, payments, and reimbursements.[1][2][3][4] It serves enterprises in China by solving fragmented corporate spending through a SaaS+Payment model that combines software with proprietary payment systems, partnering with airlines, hotels, rideshares, dining platforms, and banks for seamless one-stop solutions.[1][3][4] Founded around 2015-2016, it achieved unicorn status in 2022 after raising $140M in Series C+ funding (total ~$300M+), led by DST Global with backers like Hillhouse, Ribbit, and WhaleRock, fueling product enhancements, team expansion beyond 1,000 employees, and market growth.[1][2][3][5]
The platform targets pain points in corporate cash flow, budgeting, and reimbursements, claiming leadership as China's only unicorn in enterprise spend management with reported revenue around $210M and strong momentum in SaaS and fintech.[4][5]
Fenbeitong was founded in 2015 or 2016 in Beijing by Henry Lan, who serves as CEO and envisioned a comprehensive corporate spend platform rooted in real-world enterprise needs.[1][2][3][4] Lan's background details are not specified in available sources, but the idea emerged from addressing inefficiencies in China's corporate spending landscape, where traditional tools lacked integrated payments and local adaptations.[1][3]
Early traction built through heavy investment in China-specific budgeting tools, partnerships with key service providers, and bank collaborations for digital accounts.[1][3] Pivotal moments include a $36M Series B in 2020 and the landmark 2022 Series C+ round that propelled it to unicorn valuation, marking its evolution from a consumption control platform to an industry leader.[1][3]
Fenbeitong rides China's fintech boom, where 86% of netizens use online payments and digital yuan adoption accelerates, positioning it amid rising demand for next-gen corporate financial platforms.[3] Its timing aligns with post-pandemic enterprise digitization, SaaS growth, and internationalization of funding—evident in U.S., Saudi, and global VC backing amid China's leading fintech ecosystem.[1][3]
Market forces like fragmented legacy spend systems favor its integrated model, influencing the ecosystem by defining "SaaS+Transaction" standards, enhancing corporate cash flow management, and driving industry innovation in B2B payments.[1][3][4]
Fenbeitong is poised to solidify dominance in China's corporate spend management, expanding sales into 12+ cities, scaling its payment system, and growing headcount past 1,000 while enhancing AI-driven controls.[3][5] Trends like digital yuan integration, AI in finance, and global VC inflows will shape its path, potentially evolving it into a cross-border player as fintech internationalization deepens.[3]
Its unicorn momentum underscores a shift to seamless enterprise spending, tying back to its founding vision of a true one-stop platform that redefines efficiency for Chinese businesses.[1]
Fenbeitong has raised $280.0M in total across 5 funding rounds.
Fenbeitong's investors include DST Global, Alumni Ventures, Glade Brook Capital Partners, IDG Capital, Lightbank, Lightspeed Venture Partners, Ribbit Capital, David Dubick, BitRock Capital, D1 Capital Partners, Emergence Capital, Hillhouse Capital Group.
Fenbeitong has raised $280.0M across 5 funding rounds. Most recently, it raised $140.0M Series C in February 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2022 | $140M Series C | DST Global | Alumni Ventures, Glade Brook Capital Partners, IDG Capital, Lightbank, Lightspeed Venture Partners, Ribbit Capital, David Dubick, Bitrock Capital, D1 Capital Partners, Emergence Capital, Hillhouse Capital Group, Saudi Aramco, Stau, Whale Rock Capital | Announced |
| Mar 1, 2021 | $93M Series C | — | Greycroft, IDG Capital, Mucker Capital | Announced |
| Mar 1, 2020 | $36M Series B | — | Alumni Ventures, Glade Brook Capital Partners, Greycroft, IDG Capital, Lightbank, Lightspeed Venture Partners, Mucker Capital, Ribbit Capital, David Dubick, China Growth Capital, CreditEase, Eight Roads Ventures | Announced |
| Aug 1, 2017 | $6M Series A | — | Greycroft, IDG Capital, Mucker Capital | Announced |
| Mar 1, 2016 | $5M Series A | — | Greycroft, IDG Capital, Mucker Capital | Announced |