Ponhu Luxury closes RMB175m Series B round led by Fortune Capital and Ince Capital

Ponhu Luxury, a second-hand luxury goods distribution service provider, has completed a Series B round of financing, raising 175 million yuan. This round of financing was led by Fortune Capital and Ince Capital, with participation from Befor Capital.

Ponhu Luxury, a second-hand luxury goods distribution service provider, has completed a Series B round of financing, raising 175 million yuan. This round of financing was led by Fortune Capital and Ince Capital, with participation from Befor Capital.

In January 2018, Ponhu Luxury had received 100 million yuan in its Series A financing round, led by Triniti Capital, 1898 Venture Capital, Ezen Capital and Hao Yi, the founder of Makelumer, and others.

Established in 2015, Ponhu Luxury is a developer of second-hand luxury goods e-commerce and operator of second-hand luxury goods stores.

The company provides second-hand luxury goods sellers and consumers with various professional services such as inquiry, evaluation, identification, recycling, consignment, maintenance and repair, enabling idle second-hand luxury goods to get in the hands of customers.

Ponhu Luxury adopts the business model of C2B and B2C. In 2016, it took the lead in establishing the industry’s luxury recycling standard. In 2017, it became the official strategic partner of Xianyu and JD.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/14/ponhu-luxury-closes-rmb175m-series-b-round-led-by-fortune-capital-and-ince-capital/.

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