AVCJ

China online liquor retailer Jiuxian gets $49m

  • Christie Ou
  • LinkedIn  
  • Google plus  
  • Save this article  

Jiuxian.com, a Chinese online liquor store, has received a RMB300 million ($49 million) equity investment from China Development Bank International and other undisclosed investors.

According to local media, a group of domestic lenders, including China Merchants Bank, Minsheng Bank, Shanghai Pudong Development Bank, and Jinzhou Bank, has also agreed to extend RMB700 million in loans to the company.

This follows a Series D round of funding worth RMB425 million in April. It was provided by existing investors Rich Land Capital, Shenzhen Oriental Fortune Capital and Sequoia Capital. Hongfeng Hao, Jiuxian's CEO, said the company had raised a RMB165 million at the end of 2013 and an additional RMB260 million in early 2014.

According to AVCJ Research, Jiuxian received its Series A round from Sequoia Capital and Shenzhen Oriental Fortune in 2011. Rich Land Capital along with other undisclosed venture capital firms provided the Series B in 2012.

Jiuxian was founded in 2009 and specializes in selling wines and Chinese baijiu. It claims to have over 100,000 paying customers across 55 cities in China and more than 500 suppliers. The online store's stock comes from over 30,000 outlets.

This latest investment will be used to improve Jiuxian's dedicated alcohol delivery platform and also to develop the company's online to offline model by expanding its bricks-and-mortar store network.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Venture

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs