Beijing-based business-to-business e-commerce platform DHgate.com has received an undisclosed series D round of financing from Chinese venture capital firms China Growth Capital and TDF Capital, according to a company announcement.
DHgate.com, an e-commerce platform focused on connecting China-based small and medium enterprises with buyers overseas, says the latest investment amount to several hundred million RMB (RMB100 million equals to US$16.3 million).
Founded in 2004, DHgate.com received several million U.S. dollar series A financing from KPCB in 2006. It received another several million U.S. dollar in series B round from JAFCO and KPCB in 2008.
Its series C round of US$30 million was raised in 2010, led by Warburg Pincus, JAFCO and KPCB.
The latest proceeds will be used for developing the company’s mobile platforms and expanding to emerging markets and sectors.
DHgate.com says it has registered sellers of 1.2 million in China, and over 5.5 million buyers worldwide. It has over 25 million products being traded on its platform, with a new order being generated every three seconds.
