Shenzhen-based Qinlin Technology has completed its Series B financing round, taking in “several hundred million in RMB” (which amounts to multiples of USD 14.9 million) from investors including Xiaomi and JD.com’s fintech arm JD Digits.
Qinlin, a Software as a Service (SaaS) vendor, did not disclose the actual sum. The firm offers property-management companies a free door-access app in exchange for the right to circulate information on it, including ads, to all residents living in a complex.
Via this system, residents can unlock doors in various ways including scanning a code, showing their faces, or tapping in via their Xiaomi smartphones that have a near-field communication function.
Qinlin has also added a group-buying site inside this system, allowing residents to buy goods such as fresh produce at discounted prices.
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