Jiuxian.Com Completes$48.8M Series F Led By CDB Capital


Beijing-based alcoholic beverage e-commerce company Jiuxian.com has raised RMB300 million (US$48.8 million) series F financing led by China Development Bank Capital Corporation Ltd. (CDB Capital), according to Chinese media reports.

Established in 2009 as the private equity and direct investment arm of China Development Bank, one of the three Chinese policy banks, CDB Capital has registered capital of RMB35 billion (US$5.69 billion).

At the same time, the company says it has received RMB700 million (US$113.7 million) bank credit from China Merchants Bank, China Minsheng Bank, Shanghai Pudong Development Bank and others.

Jiuxian.com says it will use the proceeds from the latest rounds on developing its O2O (online-to-offline) platform, where customers are guaranteed nine-minute delivery of their orders.

The company also says it is planning an IPO, but there is no determined timetable yet.

Jiuxian.com previously received RMB260 series E financing in early 2014, RMB165 million series D financing in December 2013. Investors of the two rounds included existing investors Rich Land Capital, Oriental Fortune Capital and Sequoia Capital.

In 2012, the company completed its series C round of financing, raising RMB200 million from Rich Land Capital.

It received tens of millions U.S. dollars series B funding from Oriental Fortune Capital and Sequoia Capital in November 2011, and US$20 million series A funding from Guangzhou-based alcohol company Yuekeung Winery in April 2011.

Founded in 2009, Jiuxian.com is an alcoholic beverage e-commerce company, providing high-grade wines for customers. It currently has five operation centers in Beijing, Shanghai, Guangzhou, Tianjin and Wuhan.

Founded in 2011, Rich Land Capital has RMB1 billion (US$162.5 million) under management.

Oriental Fortune Capital has a total of RMB7 billion (US$1.14 billion) under management since its establishment in 2006.

 
China Expert network

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