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Full details about the new search tool will be presented at the WeChat Open Class Pro in January.

The Chinese tech giant is exploring social commerce.

The two funds mark the firm’s continuing focus on early-stage companies in a market where investments are increasingly skewing towards late-stage startups to avoid risks. 

The move surprised investment bankers as WeWork, which bears similarities with Ucommune, shelved its IPO plans not long ago.

Topica has been a leading name in Southeast Asia’s edtech sector.

The fresh cash will be used to expand the company’s virtual banking service and financial technologies.

Head-on competition from a deep-pocketed rival could be a headache for the still loss-making startup.

Next year, the firm plans to expand its lending services in an effort to become a “super lending” platform.