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YeePay receives financing from Intel Capital, DFJ and WR Hambrecht
By AMY CHEUNG
Published: August 31, 2006 12:00 AM
YeePay, a provider of innovative e-payment services based on Internet, mobile and telephone in China, today announced in a statement the completion of a round of financing led by Draper Fisher Jurvetson, DFJ Dragon and joined by Intel Capital China, WR Hambrecht and several other institutional investors. Silicon Valley's prominent venture capital firm Draper Fisher Jurvetson, together with its global affiliate fund DFJ Dragon, which is focused on investing in China, led the round of investment in YeePay. ''China is the fastest growing economy in the world. We see major opportunities in the Internet space and payment is one of them,'' said Tim Draper, Managing Director of Draper Fisher Jurvetson. Launched in April 2005, YeePay has quickly become a market leader in the e-payment space in China. YeePay's services enable merchants to process secure bankcard payments. Draper Fisher Jurvetson's past successful investments in China including Baidu, Focus Media and KongZhong.
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