Tencent-backed economic marketing and advertising startup raises $15.3m

BEIJING — Shenzhen Tengyin Info Consulting, a Chinese startup that gives advertising and marketing options to economic establishments, has raised more than 100 million yuan ($15.3 million) in a collection A+ funding spherical led by Tencent Holdings and Gaorong Cash.

The firm stated it will shell out the cash on boosting its solution lineups, acquiring personnel, bettering R&D skills and on immediately releasing price-extra goods and relevant services.

Founded in 2019, Shenzhen Tengyin features as digital infrastructure for the retail banking sector. The firm’s founding associates consist of economical specialists and fintech industry experts from Tencent.

Shenzhen Tengyin was picked as the leading husband or wife for Tencent’s WeChat Get the job done in 2020, turning out to be the only financial service enterprise to receive the award.

Retail finance largely is dependent on connections with customers. Even though WeChat is a powerful system in phrases of connecting people today, there are continue to a lot of hurdles when financial institutions get the job done on internet marketing by WeChat.

Banks’ marketing associates commonly get in touch with clients by their personalized WeChat accounts. Consequently, they usually choose their consumers with them when they depart banking institutions. In addition, conveying internal announcements through WeChat is not only ineffective but also challenges information and facts leaks.

It is also difficult to pin down the trigger when troubles occur. In addition, sending bulk messages is fewer economical as it requires a good deal of trouble and charges.

Shenzhen Tengyin focuses on these challenges in offering skilled products and services to fiscal establishments. The organization has also aided financial establishments construct sustainable consumer management designs capitalizing on model properties as they endorse digitization.

The enterprise defines itself as a application-as-a-services, or SaaS, tech company.

Shenzhen Tengyin has partnered with a selection of point out-owned banking institutions and far more than 60% of major joint-stock business banking institutions. The corporation provides expert services to a lot more than 120 money institutions in China and overseas, like CMB, China Citic Bank, Minsheng Bank and China Everbright Financial institution.

“By combining Shenzhen Tengyin, Tencent’s industrial world-wide-web and WeChat,” a corporation consultant explained, “we can offer you digitization resources to retail finance and come to be an ecosystem companion for economical institutions underneath Tencent’s industrial digitization method.”

Mentioned Xiang Gao, founding associate at Gaorong Cash: “Companies’ client acquisition fees are growing, although people and firms are getting nearer. Therefore, it has turn out to be ever more essential for providers to use non-public visitors, which enables them to specifically attain out to individuals.”

“Shenzhen Tengyin has built economical a person-halt, WeChat-based mostly marketing and advertising alternatives for monetary institutions employing their expertise and specialized prowess. WeChat ecosystems can be adopted actively in all sectors. We imagine that WeChat-dependent advertising and marketing alternatives will help banks to access out to unique business proprietors. It will be incredibly encouraging for organizations pushing for digitization.”

36Kr, a Chinese tech news portal established in Beijing in 2010, has extra than 150 million viewers worldwide. Nikkei announced a partnership with 36Kr on May perhaps 22, 2019.

For the Japanese version of this story, click on right here.

For the Chinese model, click on here.