Home / Financial Report / Microsoft-Backed Startup Gets $10M Funding Boost; Vanessa Gao Comments

Microsoft-Backed Startup Gets $10M Funding Boost; Vanessa Gao Comments

MicrosoftA Chinese financial technology startup backed by Microsoft Ventures (NASDAQ: MSFT) has secured $9.8 million in a funding round from several investors, including CBC Capital and Matrix Partners.

91Jinrong is a member of Microsoft Ventures Accelerator and works to match financial products and services to customer needs through an online platform, MVA said Thursday.

Vanessa Gao, CEO in residence at Microsoft Ventures Accelerator Greater China, said the program is intended to help entrepreneurs develop technology, raise money and explore market opportunities.

MVA in China has offered business guidance and technical support to 47 startups since the program launched in July 2012, Gao added.

Xu Zewei, 91Jinrong founder and CEO, said Microsoft gives the online financial intermediary free access to the Windows Azure cloud computing platform.

Check Also

Cerberus to Acquire Sparton; Tarek Ajouz Quoted

New York-based private equity firm Cerberus Capital Management has agreed to pay $18.50 in cash for each …

Harris Refiles Antitrust Notification for L3 Merger Deal

Harris (NYSE: HRS) has withdrawn and refiled a notification required under the Hart-Scott-Rodino Antitrust Improvements Act of …