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Yiguo gets new round of financing
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SHANGHAI-BASED fresh food online retailer Yiguo said yesterday that it has completed a new round of financing, led by Suning Commerce Group and institutional investors including Credit Suisse, Fidelity, BOC International’s investment fund arm and Certain Capital.
No figures were released but earlier reports said a Suning-led group would invest US$200 million in Yiguo. In March, e-commerce giant Alibaba and venture capital firm KKR Group also invested in the company.
Chairman and Chief Executive Officer Zhang Ye said yesterday that the company will strengthen collaboration with Suning for online-to-offline services and logistics capabilities.
Yiguo boasts an average of 200,000 orders on average per day with daily transaction volume of 10 million yuan (US$1.5 million). Its dispatch network covers more than 200 cities.
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