China Merchants Capital Investment Co., Ltd. has led a series C round worth over US$100 million in yMatou.com, an online cross-border e-commerce platform.
It is unclear exactly how much yMatou.com raised, or how the company is valued in the round. The company said only that the dollar amount of the new funding round is higher than its US$100 million series B round.
yMatou.com did not respond immediately to an inquiry from China Money Network to confirm the figures.
Founded in 2010, yMatou.com’s platform connects Chinese consumers and overseas retailers. The company claims it had 48 million users and over 60,000 retailers on its platform as of the end of the third quarter, covering 83 countries such as the U.S., U.K., Japan, Australia, South Korea and New Zealand.
The firm previously raised a US$100 million series B round led by Sailing Capital in 2015. One year prior, it received an undisclosed amount in a series A financing round from SAIF Partners.
It plans to use the latest proceeds to expand its business to tier two and tier three cities, as well as improve customer experience.