SaaS developer Yazuo completes a new round of strategic financing

Yazuo, developer of SaaS for restaurant management has announced the completion of a new round of financing from Weimob Inc, a Hong Kong-listed company. According to the announcement, Weimob Inc (2013.HK) subscribed for 63.83% of Yazuo’s shares through a wholly-owned subsidiary. After the transaction, Yazuo will become a subsidiary of Weimob Inc and be included in the listed system.

Yazuo, developer of SaaS for restaurant management has announced the completion of a new round of financing from Weimob Inc, a Hong Kong-listed company. According to the announcement, Weimob Inc (2013.HK) subscribed for 63.83% of Yazuo’s shares through a wholly-owned subsidiary. After the transaction, Yazuo will become a subsidiary of Weimob Inc and be included in the listed system.

Weimob Inc will build a one-stop smart catering solution that integrates membership, cashiering, takeaway service, ordering, reservation, and supply chain management. It will rely on WeChat’s decentralization and private domain traffic, different from the ecological closed loop of a centralized traffic platform.

The company helps catering companies build their own customer management systems, enabling restaurant clients to obtain their own management software with cloud serving services.

Established in 2006, Yazuo has been working in the catering industry for more than 14 years. It is a pioneer of membership marketing in the industry. The company helps catering businesses develop their own SaaS for restaurant management.

At present, Yazuo serves more than 1 million restaurants, and more than 40% of the top 100 catering companies are its customers. The company’s core team members are mainly from the top 500 companies and have rich practical experience in the catering industry.

Yazuo has previously completed three financing rounds : RMB10m Series A from Lotus Lake Ventures in December 2010, RMB10m Series B from SAIF Partners, and RMB100m Series C from Ant Financial.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/saas-developer-yazuo-completes-a-new-round-of-strategic-financing/.

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