Xingsheng Selected to close USD800m Series C+ round

Community group-buying platform Xingsheng Selected will complete a Series C+ round of financing worth approximately 800 million US dollars, with a post-investment valuation of four billion US dollars.

Community group-buying platform Xingsheng Selected will complete a Series C+ round of financing worth approximately 800 million US dollars, with a post-investment valuation of four billion US dollars.

The round was led by KKR, with participation from Sequoia Capital China, Tencent and Tianyi Venture Capital and more.

To date, Xingsheng Selected has completed five rounds of financing, with a total amount of more than one billion US dollars, attracting more than ten well-known investment institutions, including Sequoia Capital China, Capital Today, Tencent, KKR, Eastern Bell Venture Capital, GSR Ventures, and ZhenFund.

Founded in January 2018, Xingsheng Selected relies on community-based brick-and-mortar convenience stores to provide users with a selection of vegetables and fruits, meat, poultry and aquatic products, daily necessities and other categories of goods through the model of online ordering and self-pickup.

In addition to accelerating the financing, Xingsheng Selected may also start its IPO plan. According to 36Kr, this round could be the last financing round before the IPO.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/25/xingsheng-selected-to-close-usd800m-series-c-round/.

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