Yeahka: driving investment in SaaS payment solutions
As the development of payment technologies evolve, so does the demand from merchants for digital and smart solutions in order to continuously acquire customers and improve the experience provided via innovative technologies.
Being a leading payment based technology platform in China, Yeahka has over the last few years rapidly expanded its customer base accumulating large volumes of data. As a result the company has been able to leverage its growing expertise in big data analysis and artificial intelligence (AI) technology to further fulfill the need for digital and smart solutions.
Investment platform continues to expand in the industry
With this in mind Yeahka has expanded its payment and SaaS business via its investment platform. As a result Yeahka has strengthened its value chain from payments to business services driving value for its customers.
Via RYK Capital Partners, Yeahka has increased its investment in Fushi Technology Co., Ltd.'s payment and service platform ‘Haoshengyi’. The platform connects multiple payment methods to assist merchants needing to consolidate cash registers, and provides integrated billing functions, as well as store management and customer services.
“Haoshengyi has been expanding rapidly by effectively capitalising on market opportunities that stem from the evolving digital economy, where micro and small merchants are in dire need of intelligent business solutions,” noted in a company statement.
Also via RYK Capital Partners, Yeahka made strategic investments in Shenzhen Zhibaiwei Technology Development Co., Ltd., a leading SaaS software developer. By collaborating with Shenzhen Zhibaiwei Technology Development Co., Ltd., the two will develop value-added services including: payment solutions, SaaS software, and marketing services.
Technology-enabled smart services
By leveraging its own transaction data from the Company's payment services combined with AI-enabled image recognition, intelligent credit analysis and scoring technologies, Yeahka provides its customers with a variety of technology-enabled business services, including merchant SaaS products and marketing services to improve operational efficiency, effectively reach target markets and improve end-to-end ecosystems.
In 2015, Yeahka launched Smart Shopkeeper - an intelligent ordering machine.
Customers can harness the restaurant management app to view menus and place orders, helping restaurants alleviate the pressure during peak hours and improve operational efficiency.
launched early this year, Yeahka developed Juhuisaosao, a smart payment speaker application, that enables voice reminders for new payments that have arrived in order to minimise the likelihood of missed or lost orders. Juhuisaosao also provides additional insight into business performance via analysis of transaction data.
In addition to Juhuisaosao, Yeahka launched Yuehuiquan, a coupon aggregation platform for merchants to build their customer base for private marketing helping merchants maintain customer relationships.
Continuous investment in tech innovations
As part of its continuous investment in tech innovation, Yeahka aims to develop a smart payment ecosystem. To achieve this Yeahka has been making strategic investments in RYK Capital Partners to develop products for SaaS and sales services across its own platforms.
“Looking ahead, Yeahka will further increase its strategic investments in upstream and downstream business sectors, as well as in basic technologies and core product upgrades. Yeahka will also explore comprehensive scenario-specific functionalities for mobile payments and smart marketing services by leveraging technological innovations in AI and cloud computing [...] by leveraging its strong technological innovation and risk management capabilities, the Company will continue to develop and build a sustainable and trusted technology platform,” concluded .
Timeline: India takes unicorn leap with six in five days
We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.
April 5: Meesho
India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.
April 6: CRED
Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.
April 7: API Holdings / Groww
The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.
April 8: ShareChat
New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.
April 9: Gupshup
AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels.