Yinpin Shengxian recently announced the completion of a Series C financing round worth 250 million yuan.
Yinpin Shengxian recently announced the completion of a Series C financing round worth 250 million yuan. The round was led by existing investors Tencent Holdings and Today Capital, with participation from Eastern Bell Venture Capital.
Proceeds from this round of financing will mainly be used to accelerate the expansion of offline and online businesses, the integration of the entire industry chain, continued investment in technology research and development, and the layout of the national logistics warehouse and distribution.
In March 2019, Tencent had also led a two billion yuan Series B round for Yinpin Shengxian.
Founded in 2013, Yipin Shengxian is dedicated to providing consumers with high-quality, low-priced, fresh and safe fresh goods, and is the closest 24/7 community supermarket to consumers.
Starting from Hefei, the company has about 400 stores in 2018, and has nearly 900 stores to date, covering 17 cities in China.