Wacai, a personal finance app developer, announced today about ten million dollars of Series A funding from IDG Capital Partners. The company received some ten million yuan angel investment in June 2011.
There are two products the company has developed, a bookkeeping service called Wacai and a credit card manager. The bookkeeping app, launched in late 2009, claims it has had 40 million users. In the past July a mutual fund trading feature was added to it in the wake of the launch of Alibaba’s Yuebao.
The credit card manager was launched as recently as in April this year. Wacai and its investors are not alone eyeing the growing credit card usage in China. Sequoia China has invested $10 million in Kaniu, a credit card management app launched over one year ago.