Personal Bookkeeping App Suishouji Raises Tens of Million Dollars in Series B Financing

Chinese bookkeeping app Suishouji has secured millions of dollars in Series B financing led by Fosun Capital and followed by Series A investor Sequoia Capital  China.

Suishouji helps users to achieve the goal of being economical and to better master their financial status by keeping accounts, setting budgets, controlling unnecessary expenditure, etc. The note-taking solution provides visual and complete dynamic reports to help users know where their spending goes in life. The app also sends alerts to through shot messages or emails when users’ spending exceed the budgets, helping them to control urges for shopping.

The app has amassed over 120 million users, with monthly active users stands at around 3 million, according to the company. The app books over 10 million of notes per day, managing 500 billion yuan (around US$82 billion) of debts and 100 billion yuan of financial investments in 2013. The company expects these figures to double this year.

Feidee, the developer of Suishouji, was initially financed by Kingdee, a Hong Kong-listed enterprise financial software developer and the former employer of core members of Feidee founding team. Feidee is the also the developer of popular credit card manager Kaniu, which has raised US$10 million of funding from Sequoia Capital China last year.

The company added that the funding will be used in data mining and opening up data collected from Suishouji and Kaniu to domestic online finance startups so as to bring them more traffic.

image credit: Feidee