Personal finance platform Shenzhen Suishou closes KKR deal

Shenzhen Suishou Technology has closed its?Series C funding round from buyout giant KKR.

KKR joins Sequoia, Fosun Group and Source Code Capital as investors in the company. The buyout firm made the investment from its $9.3bn Asia fund, which closed earlier this year.

China-based Shenzhen is a personal financial management platform which gives customers an app, allowing them to track spending, organise budgets and manage credit card usage.

It is the largest financial platform in China and its app has been downloaded more than 300m times.

The capital provided will allow Shenzhen to expand its operation across China.

KKR China CEO Paul Yang said, ?With rising per capita income and growing awareness of financial planning, more people are adopting online tools to manage their wealth. Suishou is a leader in the industry with best-in-class technology and an experienced management team. We are extremely excited to partner with Gu Feng and the whole Suishou team.p>

Earlier this month, KKR took part in the $88m Series D funding round into Digital identity management platform ForgeRock. This year the firm also invested $70m of growth equity into spend management platform Ivalua.

The largest FinTech deal in North America in Q2 2017 was KKR’s $3.5bn investment into First Data Corporation.?

Copright ? 2017?FinTech Global

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