The 24-hour grocery chain secured the money in a series C round co-led by Tencent, the corporate investor that also led its series B early last year.
Internet group Tencent co-led a RMB2.5bn ($358m) series C round yesterday for China-based fresh food retailer Yipin Fresh, according to an announcement by the corporate on messaging app WeChat.
The round was co-led by private equity firm Capital Today and also featured venture capital firm Eastern Bell Venture Capital.
Founded in 2013 and also known as Yipinshengxian, Yipin operates a range of almost 900 24-hour stores selling fresh produce across some 17 Chinese cities, having expanded the size of that…
