(Yicai Global) Feb. 5 -- Xencio Technology Co., a Chinese B2B provider of intelligent finance and capital management services, will accelerate product innovation and support marketing and distribution development following the securement of CNY10 million (USD1.6 million) in angel round financing.

Cloud Angel Fund, a fund jointly set up by CBC Capital and Sequoia Capital among others, led the investment in the Shanghai-based fintech firm, with support from China Growth Capital and Cambrian Venture Capital, online news outlet Lieyunwang said.

Xencio is an intelligent service provider with services including AI data analysis, enterprise finance and capital data analysis and management. Since its founding in 2015, it has focused on data mining and the enterprise finance and capital management sectors.

The firm uses an intelligent cash analysis flow system mainly consisting of four subsystems, namely, capital management system, intelligent account reconciliation system, invoice status query system, and customer credit analysis system.