Ele.Me Completes $630M Series F Co-led By CITIC PE, Beijing Hualian

Shanghai-based online food ordering platform Ele.me has received US$630 million series F funding round led by CITIC Private Equity Funds Management Co. and Shenzhen-listed Chinese shopping mall operator Beijing Hualian Department Store Co., Ltd., according to a company announcement.

China Media Capital, Gopher Assets, and existing investors Tencent Holdings Limited, JD.com Inc., Sequoia Capital also participated in the round, which values the start-up at US$3 billion.

The round is a record for online food ordering platforms globally, and will make Ele.me one of the most highly valued start-ups in the sector, together with GrubHub, Delivery Hero and JustEat.

In January, Ele.me said it had raised US$350 million series E financing led by CITIC Private Equity.

Founded in 2009, Ele.me received several million U.S. dollar series A from GSR Ventures in 2011. In 2013, it received several million U.S. dollar series B financing from Matrix Partners China and GSR Ventures.

Later in 2013, it completed US$25 million series C round led by Sequoia Capital, with participation from GSR Ventures and Matrix Partners.

In May 2014, it received US$80 million series D financing from Shanghai-based Yelp-like review website Dianping.com.

As of July 2015, Ele.me provides online food ordering services in 260 cities in China, with 40 million users and daily transaction value of over RMB60 million, over 98% of which come from mobile devices, according to the statement.

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