Tencent has backed another round for the bulk grocery shopping service, which also attracted China Evergrande Group and valued Xingsheng at $6bn pre-money.
China-based community buying platform developer Xingsheng Youxuan has secured approximately $2bn in a funding round featuring internet group Tencent and real estate developer China Evergrande Group, Reuters reported today.
Sequoia Capital China led the round, which also featured FountainVest Partners, Primavera Capital Group, KKR and Temasek. It valued Xingsheng at $6bn pre-money.
The money was raised before the lunar new year, but Reuters did not confirm whether Tencent’s $100m investment last month was part of the round.
Xingsheng Youxuan…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
