June 23, 2021 – Sheng Ye Capital Limited (“SY Capital” or the “Company”, together with its subsidiaries, the “Group”, HKEx: 6069), a leading supply chain fintech platform, today announced that it has completed a strategic investment into medical Software-as-a-Service (“SaaS”) provider Shanghai LinkedCare Information Technology Co Ltd. (“LinkedCare”), as a part of its series D financing round led by Investcorp. Other co-investors in this round include Jinding Capital, as well as existing investors, such as Matrix Partners China, So-Young, and Lightspeed China Partners. This marks LinkedCare’s second fundraising in the past six months, bringing the total funding amount to over USD100 million this year. Investors in previous rounds also include Fosun and Taikang Life Insurance. The participation from reputable institutional and strategic investors re-affirms LinkedCare’s leading market position and growth potential within the consumer healthcare “SaaS + Supply Chain” segment.
Under the strategic collaboration and investment agreement, both SY Capital and LinkedCare will jointly develop initiatives in the areas of big data analytics and supply chain digital financing for the consumer healthcare sector. As a strategic investor, SY Capital will leverage its capabilities in digital technology to provide flexible financing solutions to LinkedCare and its suppliers within the supply chain ecosystem. The partnership will also promote supply chain digitalization of the dental and medical aesthetics segments, while further accelerating the development of LinkedCare’s supply chain platform and B2B e-commerce business.
Founded in 2015, LinkedCare provides integrated management solutions for dental clinics and aesthetics companies. It offers management solutions for independent clinics and chains, electronic medical and health records, customer relationship management on social platforms, smart marketing solutions for private domain traffic, smart operations management, B2B consumables e-commerce, inventory, sales and invoice management, insurance payments, image integration, and other services that support a broad array of needs in the management of medical clinics. Through its open platform, LinkedCare brings together both the upstream and downstream segments of the industry by collaborating with reputable third parties to provide comprehensive solutions to clinics. To date, it has provided SaaS management software to over 30,000 dental and aesthetics companies, of which 80% are in the high-end chain segment. Leveraging its extensive industry insights and strong technical capabilities, LinkedCare has demonstrated robust growth and has been consistently ranked among the top-tier consumer healthcare SaaS solutions and management software providers in China. In addition to SaaS services, LinkedCare is also active the industrial supply chain space, having launched “LinkedCare Mall” to connect both the upstream and downstream segments of the ecosystem. To date, LinkedCare Mall has connected over 300 tier-1 brands with more than 10,000 SKUs. By adopting a two-pronged “SaaS + Supply Chain” model, this also symbolizes LinkedCare’s ambition to create a comprehensive digital infrastructure for the industry.
SY Capital was China’s first supply chain fintech platform to be listed on the main board of the Hong Kong Stock Exchange. The Company is a constituent of the MSCI China Small Cap Index, the Hang Seng Composite Index and included in the Shenzhen-Hong Kong Stock Connect. Notable institutional investors include Temasek Holdings, China Taiping and US private equity firm Olympus Capital. Through its “Dual-Engine, One-Platform” strategy, SY Capital harnesses industrial technology and digital finance to provide comprehensive supply chain financing services. The Company leverages big data analytics to provide intelligent matching of assets to capital, offering a one-stop supply chain SaaS and fintech solution for both enterprises and financial institutions. As a designated “National High-Tech Enterprise”, SY Capital’s technology platform is well entrenched into the digital industrial ecosystem of over 10 large-scale enterprises, has a total cumulative asset under management of over RMB 100 billion, and provides flexible financing solutions to more than 8,000 small and medium enterprises (“SMEs”).
Mr. Zhijia Wu, founder and CEO of LinkedCare, commented, “We are fortunate to have achieved a new milestone in the consumer healthcare SaaS segment, thanks to the trust and support of our partners in the dental and medical aesthetics segments. Our SaaS model was designed to link people, processes, devices and services. It has created a solid foundation for us to deepen our supply chain and value-added service capabilities, which will in turn drive digitalization and improve the overall operating efficiency of the supply chain market.”
Mr. Aaron Yuan, Chief Strategy Officer of SY Capital, added, “We have great confidence in Mr. Wu and his excellent team, and are honored to participate in this round of fundraising as a strategic partner of LinkedCare. We see a lot of value in the consumer healthcare SaaS segment, and believe that LinkedCare’s innovative model to establish a SaaS-powered supply chain platform is highly aligned with our strategy in the industrial technology space. Against the backdrop of continued digital transformation in the consumer healthcare industry, we look forward to working with LinkedCare to build a digital ecosystem for the industry and provide the full suite of “SaaS + Supply Chain + Digital Financing” services to enterprise customers within the ecosystem. We will also provide the industry resources and supply chain financing support for LinkedCare to cement its leading position in the industry.”
SY Capital had also recently announced plans to make strategic acquisitions and investments within the industrial technology and digital finance sectors as part of accelerating its “platformisation” strategy. Key strategic areas of interests include industrial SaaS, digital technology, Internet of Things and supply chain platforms amongst others. Using an “equity investment + resources sharing + financing” approach, SY Capital will support its investee companies in achieving their growth strategies, create an open and partnership-driven ecosystem to fulfil the Group’s mission of “Driving supply chain efficiency, making finance more inclusive”.
