Chinese O2O retailer raises $59m from Alibaba-backed fund
KK Guan, a China-based online-to-offline (O2O) retailer that mainly sells imported goods, has received RMB400 million ($59 million) in Series C funding led by the Electronic World Trade Platform (eWTP) Ecosystem Fund, which is backed by Alibaba Group and Ant Financial.
Other participants include Hongtai Capital, a fund established by Minhong Yu, CEO of US-listed New Oriental Education & Technology Group, and banker Xitai Sheng in 2014. The company’s existing investors...
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