Warburg Pincus has invested $100 million in Chinese B2B e-commerce platform Yijiupi's follow-on Series D funding.
Proceeds will be used to expand Yijiupi’s services and to build a retail presence.
Yijiupi started life as a wine wholesaling platform in 2014. It received more than $159 million between 2014 to 2016, from investors such as Meituan, Lighthouse Capital and Source Code Capital. In September last year, it raised $200 million from Tencent, China Everbright Limited, Meituan and others.
With support from big players like this, Yijiupi expanded its business to non-alcoholic beverages in 2016, and then to supply chain finance in 2017. The platform...
¬ Haymarket Media Limited. All rights reserved.
