China Broadband Capital Joins Series B Round In Ping++
Ping++ (2014, Shanghai) Payment processor that offers integrated mobile payment SDKs and comprehensive payment solutions for developers, has raised $10M in Series B funding led by China Broadband Capital and Shengjing Technology, with participation from Sequoia and Linear Ventures.
The company says it will use the proceeds on team expansion, product improvement and expansion. Ping++ offers an integrated payment software development kit (SDK) and a comprehensive payment solution.
It currently supports payment in apps, WeChat subscription, mobile webpage, PC and QR code, both online and offline. Ping++ has over 6,300 clients, mostly in the online marketplace, Internet finance, O2O (online-to-offline) and gaming sectors.
Yiye Jin, chief executive of Ping++, says that there is not much difference between Ping++ and Stripe, a U.S. payment firm, in terms of business model. But their systems differ as Ping++ is designed according to the domestic payment environment.
The article first appeared in Chinamoneynetwork.com