FMCG B2B Platform Yijiupi Announces Series D+ Financing of USD 100 Million
Yijiupi, an FMCG B2B platform in China, announced to complete its series D+ financing of USD 100 million, invested by Warburg Pincus.
Mar 16, 2018 /EqualOcean/ - Yijiupi (易久批, also known as 易酒批), an FMCG B2B platform in China, announced to complete its series D+ financing of USD 100 million. Warburg Pincus invested this round financing, Lighthouse Capital serves as the exclusive financial advisor.
Founded in Sep 2014, Yijiupi initially entered the B2B market with only beverage category, while the company expanded the business to more FMCG categories, as well as upstream and downstream of the industry chain. The company now offers warehouse and distribution sharing service, supply chain financial services, as well as offline chains. So far, the company positioned itself as a "Whole Industry Chain Internet Integration Service Platform of FMCG".
"We are very optimistic about the development of the industry Internet in China. It has large differences between different vertical industries, and the participants are quite independent of each other. The digitalization and integration of the industries powered by the Internet have brought great value, by improving the efficiencies. Warburg Pincus will further focus on the investment targets of the industry Internet, and accelerate the Integration of the upstream of the industry”, said ZHANG Lei (张磊), the managing director of Warburg Pincus.
According to an article by 36kr, Yijiupi has achieved GMV of over CNY 13 billion and made supply chain loans over CNY 8 billion. As to the city coverage, the company has covered all Tier 1 & 2 cities and major prefecture-level cities, which number is over 130 cities.
When talking about the consideration of investing Yijiupi, ZHANG Lei said that “Yijiupi is the kind of enterprise that we prefer. The founder of the company has clear thinking, the business model is quite practical, and the development process is stable. Yijiupi dedicates itself to the career of the digitalization of the industry chain, in order to achieve not only the connectivity of information but also the actual efficiency improvement; not only a platform of trading but also the deeper empowerment and services."
Less than six months ago, on Sep 20 last year, Yijiupi just received series D financing of USD 200 million co-led by Meituan Dianping (美团点评) and Tencent, followed by China Everbright Group and old shareholder Source Code Capital. After these two rounds of financing, the cumulative amount of the series D financing of Yijiupi has reached USD 300 million.