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Chinese cloud tax startup raises around $100m

Yunzhangfang to upgrade IT infrastructure and brand management

The Chinese software-as-a-service platform Yunzhangfang helps corporations with their taxes and financial management.

SHANGHAI -- Yunzhangfang, a Chinese software-as-a-service tax platform, has received approximately $100 million in its Series E round led by the private equity firm Apax Partners' subfund Apax Digital. The round was joined by GF Securities' GF Qianhe and GF Investment (Hong Kong).

Boutique investment bank InvesTarget facilitated the transaction, it announced in a WeChat post last week.

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