Tencent leads $ 50 million financing in style e-commerce platform CHICV
Chinese language cross-border e-commerce startup CHICV mentioned on Friday it had pocketed $ 50 million in a Collection B funding spherical led by tech big Tencent Holdings.
Focustar Capital, an funding arm of Fivestar Holdings, additionally participated within the final spherical. Funding financial institution Yue Capital facilitated the transaction, she mentioned in a press release.
CHICV plans to speculate the capital raised within the final cycle to strengthen its know-how, provide chain, e-commerce platform and model advertising initiatives.
CHICV, which began operations in 2015 and is headquartered in Guangzhou, southeast China, operates a cross-border style e-commerce enterprise. It claims to satisfy the wants of customers in additional than 200 markets and sells clothes and niknaks reminiscent of sneakers, hats and luggage.
CHICV has additionally deployed numerous sub-platforms together with Stylewe, Justfashionnow and Noracora.
After witnessing rising demand in North America and Europe, CHICV now plans to enter rising financial hubs reminiscent of South America and the Center East.
Beforehand, in 2017, CHICV closed an undisclosed Collection A financing completely from Web-focused Beam Capital. Beforehand, in 2016, he additionally raised 15 million yuan ($ 2.3 million) in an angel funding spherical from Lenovo Capital and Grit Ventures.