Business travel and expense management SaaS platform Cloud Helios announced that it had picked up 100 million yuan (USD 14.52 million) in its series C round of financing, the second round this year after raising 50 million yuan in March. Softbank China Capital was the lead investor, and Zhonglin Capital also joined the latest funding with other investors.
Mr. Changzheng Zhang, founder and CEO of Cloud Helios, said that the latest funding would be spent on the research and development of technologies. The Shanghai-based company is also looking to venture overseas, with Japan as its first international stop. It has concluded negotiations with partners and potential clients in Japan, and anticipates a large-scale expansion in the market next year.
Cloud Helios is an incubation project of Hand Enterprise Solutions, a long-standing brand in China that offers IT system support to firms in the manufacturing, finance, trading, e-commerce, and media industries. Established in 2016, Cloud Helios is a one-stop corporate travel service platform covering the entire process from spending to reimbursement, cost control and accounting.
By harnessing the Internet, cloud computing and big data, the platform addresses the issues of expense reimbursement and management for business managers, financial staff and employees in large and medium-sized enterprises. It also connects travel management companies to include their expenditure details in its one-stop solutions.
In 2018, Cloud Helios has improved its user experience and customer satisfaction, having set up a customer success management team in May, updated the user console and interface in July and launched the latest Version 2.0 application in early December.