Ping An Insurance has led IDG and Bertelsmann-backed luxury goods retailer Secoo's series E round, taking its total equity funding to more than $200m.
China-based luxury goods retailer Secoo closed a $55m series E round led by Ping An Ventures, the corporate venturing arm of insurance company Ping An Insurance, on Tuesday.
Other investors in the round have not been disclosed. Founded in 2011, Secoo originally operated an e-commerce business but now also sells its luxury products in physical stores across several Chinese cities including Beijing, Hong Kong and Tokyo.
Secco intends to use the series E funding to expand its products and services…