Beijing-based third-party payment platform Shenzhoufu.com Corporation received an investment of USD 10 million from Ventech and IDG, disclosed a person in the know.
Shenzhoufu is an Internet e-commerce firm focusing on e-payment and sale of virtual products. Depending on its outstanding background, excellent relationships with telecom carriers, and stable trading system, the company gained the first-round investment of USD 5 million from IDG in August 2008.
The second-round investment will enable Shenzhoufu to enhance its strength. The money will be used to boost cooperation with telecom operators, improve services, expand regional product marketing, strengthen functions of trading system, and make an attempt in local loan services, noted the insider.
Established in 2004, Shenzhoufu has formed long-term cooperation relationships with a number of Internet firms, such as Shanda Interactive Entertainment Ltd. (SNDA), The9 Ltd. (NCTY), NetEase.com, Inc. (NTES), Sohu.com Inc. (SOHU), 9you, and Baidu, Inc. (BIDU).