CreditEase Fintech Investment Fund has participated in a $36 million Series B funding round for Fenbeitong, a Chinese start-up firm specializing in corporate expense management. 

Other major investors include Eight Roads, Glade Brook Capital, Ribbit Capital, IDG Capital and China Growth Capital. 

Fenbeitong will use the funding to double its product research and development team and improve its customer experience. 

"In the U.S., we have seen unicorns like Brex, Divvy and Trip Actions quickly rising up the corporate expense management sector, taking market share from traditional industry giants such as American Express and SAP Concur," Lan Xi, founder of Fenbeitong, said in a company release. "Through technology innovation, they combine multi-functions into one platform where customers can manage their corporate credit card payment, business travel expenditure and other expenses."