Chinese cross-border e-commerce player raises $14m

Founded in 2014, Xi'an-based OrderPlus initially focused on clothing retail. It leverages China's strong manufacturing capabilities and provides in-house design services to local brands looking to sell into overseas markets including Europe, the US, and Southeast Asia.

The company has since expanded into home furnishings, maternal and infant products, and consumer electronics. It has more than 1,000 employees with overseas offices in Hong Kong, Bangkok and Jakarta. In 2018, revenue exceeded RMB1 billion while net profit topped RMB100 million, according to a statement. 

Cross-border e-commerce players typically face high return rates due to differences in clothing sizes and fashion tastes in foreign markets. OrderPlus claims to have spent two years building a flexible and fast-responding supply chain. The process from design to shipping - which is supported by big data and artificial intelligence systems - takes 7-15 days.

OrderPlus intends to evolve from a closed-end self-operating model to an open ecosystem in order to serve more brands. There are also plans to provide financial support to brands that want to scale up. 

“OrderPlus will lead a new wave of development in Chinese cross-border e-commerce. We’ve seen a number of companies achieve advantages globally through cost-effective operations. We will leverage our LP resources in related industries to help OrderPlus find high-quality partners overseas," said Lanchun Duan, a managing partner at Cathay Capital.

Other players in this space include Wish, a US-based cross-border e-commerce app backed by several Asian investor. Its valuation reached $11.2 billion following a Series H round led by General Atlantic. More recently, Inagora - which operates an e-commerce platform that sells Japanese premium products to Chinese customers - raised JPY5.3 billion ($48m) from SBI Holdings, pharmacy chain Sugi Holdings and Xinjin Holding, the cross-border alternative investment arm of CITIC Group.

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• Topics
• Greater China
• Early-stage
• Consumer
• Technology
• China
• e-commerce
• Cathay Capital Private Equity
• TMT