The reason why Wacai went offline may be the result of the state’s rectification of Internet deposit products and deposit series apps. Wacai was launched in June 2009. It is an earlier personal accounting and financial management platform in China. It is committed to helping customers optimize personal asset management and provide cloud services for personal financial statement supervision.
1. Wacai was born in June 2009. It is the earliest personal accounting and financial management platform in China. It focuses on helping users achieve the convenience of personal asset management, mobile personal accounting and financial management, and personal finance. Cloud-based data management. Existing services include mobile and web. The main products include APPs such as "Wacai Accounting and Financial Management", "Wacai Credit Card Manager", "Wacai Money Manager", "Wacai Bao", and "Wacai Community".
In October 2019, Wacai ranked 264th in the "2019 Hurun Global Unicorn List" with 7 billion yuan.
On November 15, 2019, Hurun Research Institute released the "Shimao Strait·Hurun Greater China Unicorn Index for the Third Quarter of 2019", and Wacai was on the list with a valuation of RMB 7 billion.
In August 2020, Hurun Research Institute released the "Suzhou High-tech Zone·2020 Hurun Global Unicorn List", and Wacai was selected.
2. Current situation
The "Wacai" series of APPs have more than 80 million users at home and abroad, with a transaction scale of 10 billion. Users include urban white-collar workers, college students, civil servants, small and medium-sized business owners and other classes; in addition to the mainland, "rich people" are also distributed in Hong Kong, Macao, Taiwan, Australia, Canada, the United States, South Africa, Europe and other countries or regions where Chinese are distributed.
3. Financing and mergers
Received 10 million RMB angel investment in 2011.06
In 2013.09, received 10 million US dollars in Series A investment from IDG Capital (10 million US dollars)
In 2013.10, it received CDH Venture Capital (capital of US$3 million A investment) Venture Capital,
(obtained in February 2014) Qiming Venture Partners (capital A investment of US$15 million), Series A investment of US$18 million
In December 2014, it received US$50 million in Series B investment from Broadband Capital and CICC
July 2015: Wacai received US$80 million in Series B investment from New Horizon Capital, Ally Bridge Capital Group, Guangxin Capital, etc. Joint investment, Series B investment amounted to US$130 million.
In 2017.05 Wacai received US$42 million in Series C financing from CDB International, a subsidiary of the China Development Bank, Broadband Capital, New Horizon Capital, Qiming Venture Partners, and Ally Bridge Capital Group.
2018.1 Wacai announced that it has completed strategic investments in professional personal accounting platforms "Circle Ledger" and "Beiduoduo", and acquired the smartphone application "Micro Accounting" to further strengthen Wacai's role in personal finance. Strategic layout of management tools and services.
In February 2018, Wacai received investment of US$140 million from Warburg Pincus, OP Financial Investment and Qiming Venture Partners in Series D.