Chinese mobile payment startup QFPay just announced on its official website to raise a financing of undisclosed sum from Sequoia China to accelerate its growth as the company, Beijing-based, just launched its revamped solution for China’s 60 million local merchants, see our previous report here.
QFPay, which was originally inspired by Square’s success story in America’s mobile payment territory, extended the reach and versatility of its offering by introducing an extensible app platform in the company’s latest product launch.
Founded in last March, QFPay now boasts a strong team of 80 while engineers accounted for more than half of the whole headcount.
The startup has got more than 10k local merchants on board as of now, with RMB north of 300 million being processed by the system from charging more than 500k bank cards.
QFPay disclosing funding news on its website
Image credit: QFPay.com