China cross-border e-commerce player gets $58m Series C

The round also features eight financial investors, including Sensegain Asset Management, Tianxing Capital and Honest Asset Management.

Shenzhen-based Youkeshu was founded in 2010. It supplies China-made products to overseas consumers through 300 e-commerce platforms such as Amazon, eBay and Wish. Imported products are also sold in China at low wholesale prices through the likes of JD.com, Vipshop and Little Red Book. In addition, the company manufactures components for drones.

Youkeshu listed on the National Equities Exchange and Quotation (NEEQ), also known as New Third Board, last April. Its revenue rose to RMB1.08 billion in 2015 from RMB233 million in 2014, while net profit jumped to RMB58 million from RMB452,000 over the same period.

The company previously raised a RMB100 million Series A round in 2014, and a RMB400 million Series B round in 2015 from a variety of domestic investors. The new funding will be used to scale the business and expand import and export services to more countries, the company told local media. 

Founder H Fund is a wholly-owned subsidiary of China's Founder Securities. The company runs six direct investment vehicles focused on healthcare, industrial upgrades, new materials and venture capital. Goldstone was incorporated as a subsidiary of CITIC Securities in 2007 with a remit to make direct investments on behalf of the group.

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