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KKR invests in Shenzhen Suishou Technology

KKR is to invest in Shenzhen Suishou Technology’s Series C funding round to support the Company’s expansion across China.

Shenzhen Suishou Technology is the provider of a personal finance management platform in China.
 
Suishou’s partnership with KKR expands the Company’s group of world-class investors, which include Sequoia Capital, Fosun Group and Source Code Capital.
 
Suishou enables individuals to better manage their personal finances by providing them with a one-stop mobile destination to track spending, organise budgets, and manage credit card usage. Suishou’s popular mobile applications include personal bookkeeping app Suishouji and fully automated credit card manager Cardniu. The Company’s apps have been downloaded over 300 million times, making it the largest mobile personal finance management platform in China.
 
Much of the Company’s success stems from China’s growing middle class and rising urbanization. With these favorable demographic changes, disposable incomes of urban consumers have been expected to double between 2010 and 2020, according to McKinsey. As these consumers have become wealthier and more focused on their personal finances, there has been a growing demand for resources to help them manage their planning and budgeting.
 
Gu Feng, CEO of Suishou, says: “We are very excited to work with a high-caliber partner like KKR, which shares our vision for growth and can leverage its experience in China and the financial services and technology industries to support our expansion. The Suishou team is excited to build on our success as China’s most-used personal finance management platform and enhance the lives of hundreds of millions of users who increasingly seek solutions to manage their budgets and achieve financial independence.”
 
Paul Yang, Member and CEO of KKR China, says: “With rising per capita income and growing awareness of financial planning, more people are adopting online tools to manage their wealth. Suishou is a leader in the industry with best-in-class technology and an experienced management team. We’re extremely excited to partner with Gu Feng and the whole Suishou team.”

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