KKR Invests in Shenzhen Suishou Technology
Suishou's partnership with KKR expands the Company's group of world-class investors, which include
Suishou enables individuals to better manage their personal finances by providing them with a one-stop mobile destination to track spending, organize budgets, and manage credit card usage. Suishou's popular mobile applications include personal bookkeeping app Suishouji (随手记) and fully automated credit card manager Cardniu (卡牛). The Company's apps have been downloaded over 300 million times, making it the largest mobile personal finance management platform in
Much of the Company's success stems from China's growing middle class and rising urbanization. With these favorable demographic changes, disposable incomes of urban consumers have been expected to double between 2010 and 2020, according to McKinsey. As these consumers have become wealthier and more focused on their personal finances, there has been a growing demand for resources to help them manage their planning and budgeting.
Gu Feng, CEO of Suishou, said, "We are very excited to work with a high-caliber partner like KKR, which shares our vision for growth and can leverage its experience in
KKR makes the investment from its Asian Fund III. Further details of the transaction were not disclosed.
About Shenzhen Suishou Technology
Suishou Technology is the largest personal and household finance management platform in
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic partners, hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside its partners' capital and provides financing solutions and investment opportunities through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about
For Shenzhen Suishou Technology:
For KKR Asia Pacific:
FTI Consulting (for KKR China)
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