China’s National SMEs Fund Leads $14M Round In

China's National Small and Medium-size Enterprises Development Fund has led a nearly RMB100 million (US$14 million) series B round in, a Beijing-based company developing employee benefits platform.

Cheung Kong Graduate School of Business's Chuang Fund and Focus Media Information Technology also participated in the round.

"THG Ventures are positive about the development of Software as a service industry in China, and we have invested in a number of sectors including commercial health insurance, financial services, commercial investigation and corporate security," said Cheng Peng, a partner at THG Ventures which manages the National SMEs Development Fund. "We think highly of's team. They have already developed a mature technology and business model."

Founded in 2013, similar to American Costco Wholesale Corp, Neig...

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