Eight Roads portfolio company Fenbeitong has raised $140m in Series C+ financing round, led by DST Global, with participation from D1 Capital, WhaleRock, P7 Ventures, and Emergence Capital. Existing investors including Eight Roads, Hillhouse, and Ribbit also participated.

A renowned corporate expense management start-up in China, Fenbeiting helps companies to better manage and control their expenditures through technological innovations. Founded in 2016, the fast-growing company has already established itself as an industry leader and has served over 1000 corporations.

With the new funding, Fenbeitong will continue to strengthen its product research and development capability and further build its team for scaling up.

Eight Roads co-led the company’s Series B+ financing in March 2020 and continued to invest in its Series C funding in 2021.