New Horizon Leads $36M Series B In Zhaosuliao.Com

Guangzhou city, Guangdong province-based online plastic trading platform has completed US$36 million series B financing led by New Horizon Capital, according to Chinese media reports.

GX Capital, Qiming Venture Partners, IDG Capital Partners, and Zhenshun Fund also participated in the round.

The company says it will use the proceeds on expanding its network and improving technology infrastructure.

Founded in July 2014, aims to improve efficiency of the plastic trading process. Its monthly gross merchandise value has reached over over RMB2 billion (US$322 million), says the reports.

It received RMB10 million angel investment from Zhenshun Fund and Matrix Partners China in 2014.

In January 2015, it received US$20 million series A financing from Qiming Venture Partners and IDG Capital Partners.

China Expert network