For many employees in the West, if you want to make a business purchase, you can either just use the corporate credit card or just bring in an invoice and file for reimbursement.
However, those who work at company registered in China will have to go through the tedious and long process of printing out a fapiao (单位发票, corporate invoice).
Knowing the pain of making reimbursement, some Chinese companies have tackled reimbursement service.
On March 6th, one-stop business trip and expense management SaaS platform Cloud Helios (汇联易) announced the receipt of RMB 50 million RMB series B financing from its previous investors SBCVC, Blue Lake Capital and Z Capital.
The Shanghai-based startup is a subsidiary of Hand China, an IT consulting firm.
Started as a research and development project of Hand China in August 2016, the company landed RMB 30 million Series A in September which was jointly funded by Blue Lake Capital, SBCVC and Hand China.