Huipay

About Huipay

Founded in 2013 and based in Beijing, China, Huipay operated as an Online-to-Offline (O2O) platform connecting consumers with deals and discounts from local businesses. The company, whose legal name is Beijing Huiyinfeng Network Technology Co., Ltd., was co-founded by Luo Fangqiang (CEO) and Niu Mu (COO). Huipay is now considered a deadpooled company.

The platform enabled local merchants to list deals on its application to attract customers. Huipay's business model also included a payment component, launching a co-branded debit-style payment card in partnership with various banks to facilitate offline transactions. At its peak, the company claimed to have issued over 3 million cards and onboarded more than 100,000 businesses across major Chinese cities, including Beijing, Shanghai, Shenzhen, and Nanjing. The company managed to raise a total of $55 million in funding over two rounds to support its expansion.