Guangzhou-based business-to-business (B2B) apparel e-commerce platform Yishou has collected USD 40 million in its Series C round from investors led by CMC Capital and joined by China Renaissance, according to the official WeChat account of Shunwei Capital, Yishou’s earlier investor.
New funds will be used to further digitalize the firm’s supply chain and to expand its customer base.
Yishou connects clothes suppliers with vendors on customer-to-customer (C2C) e-commerce platforms such as Taobao, brick-and-mortar stores, and even street vendors. Business customers can order cloth items like T-shirts, skirts, and trousers on the Yishou app to later resell on their channels.
The firm, which was set up four years ago, hit RMB 200 million (USD 28.2 million) in monthly gross merchandise volume and has gained entire profitability by now, according to Shunwei Capital. Other financial details have not been disclosed.
Shunwei led Yishou’s RMB 55 million (USD 7.8 million) Series B round in March 2019 and participated in the startup’s A round in October 2017.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.