Leading Payment-based Technology Platform YEAHKA LIMITED Successfully Listed on Main Board of SEHK
Yeahka provides a self-reinforcing commerce ecosystem that helps merchants start, run, and grow their business.
The Company has one of the largest third-party payment service customer bases in China. In terms of transaction count in 2019, the Company is the second largest non-bank independent QR code payment service provider in China, with approximately 14.0% market share.
Mr. Liu Yinqi, founder of Yeahka, who was the
first general manager of TenPay, has formed a management team with rich experience in the Internet industry. As a pioneer among independent third-party payment service providers in offering value-added services to customers, Yeahka empowers digital transformation by enabling seamless, convenient and reliable payment transactions between merchants and consumers.
Yeahka caters to merchants' need for digital solutions in operations and provides them with value-added services beyond payments by cross-selling business services at minimal incremental costs.
As of the end of 2019, over 90% of the Company's business service customers were converted from payment service customers.
Mr. Liu Yingqi said, "Today, YEAHKA LIMITED officially entered the Hong Kong stock market and tapped into the international capital market, reaching an important milestone in the Company's history.
We are honored to receive enthusiastic support from investors worldwide. Looking forward, we will continue to expand our customer base for payment services and strengthen our technology-enabled business services, fully utilize the capital market platform and capture great market opportunities to create value for merchants and consumers and generate returns for shareholders continuously."
Prior to the Global Offering, Yeahka gained the attention and support of marquee investors including Tencent, Recruit Holdings, Adams Street Funds, IVP Funds, Greycroft Growth L.P., and e.ventures Growth L.P..
In addition to financial support, Tencent facilitated customer acquisition when the Group was in its early-stage development. With Recruit Holdings, the Group introduced Smart Shopkeeper, an integrated restaurant management solution, and formed an investment platform dedicated to co-invest in areas that complement to Yeahka's payment and technology-enabled business services.
Recruit Holdings is the cornerstone investor of the Global Offering. Pursuant to the Cornerstone Investment Agreement, the cornerstone investor has subscribed for 23,302,800 shares, representing approximately 5.6% of the Company's total issued share capital following the completion of the Global Offering, before any exercise of the over-allotment option and without taking into account the shares which may be granted under the RSU Scheme.
About YEAHKA LIMITED
YEAHKA LIMITED is a leading payment-based technology platform in China providing payment and business services to merchants and consumers. As of December 31, 2019, Yeahka was one of the only 16 payment service providers that were granted both the national bank card acquiring license and mobile phone payment license.
The Company has one of the largest third-party payment service customer bases in China, and it is growing rapidly. According to Oliver Wyman, Yeahka is the second largest non-bank independent QR code payment service provider in China, with approximately 14.0% market share in terms of transaction count in 2019.
Leveraging the customer base and data assets acquired from payment services, the Company has extended its product and service offerings to technology-enabled business services, which have enabled the Company to complete an end-to-end ecosystem which facilitates transactions between merchants and consumers and creates value for merchants and consumers.
Source: ACN Newswire
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