Chinese Fashion Rentor Ms. Paris Lands USD30 Million From Ant Financial
Xu Wei
DATE:  Oct 31 2018
/ SOURCE:  Yicai
Chinese Fashion Rentor Ms. Paris Lands USD30 Million From Ant Financial Chinese Fashion Rentor Ms. Paris Lands USD30 Million From Ant Financial

(Yicai Global) Oct. 30 -- Ms. Paris, an online women's fashion rental platform under Shanghai Qiansong Network Technology, is reported to have secured USD30 million from Ant Financial Services Group in a B+ round of fundraising.

Ant Financial, an affiliate of Chinese e-commerce giant Alibaba, was the sole investor in this latest round, tech new outlet 36kr reported today. Oriental Fortune Capital Investment Management, Matrix Partners China and Northern Light Venture Capital took part in the firm's B round early this year.

Founded in March 2015, the Shanghai-based startup took Rent the Runway, a US-based designer dress and accessory rental website, as its yardstick. Ms. Paris has since unveiled a string of services including informal dress hiring and pre-purchase trials. Founder Xu Baizi has also rolled out accessory hires and soon plans to offer consumer durables such as handbags and Dyson hair dryers.

The number of people using the site surged 50 times in 2016 and has increased about 10 times since 2017, the company said, without providing specific figures. About 20 to 30 percent of early users have stayed loyal.

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Keywords:   MSParis,Ant Financial Services Group