SHANGHAI :
Chinese Gadget Flea Market Aihuishou Is Now Wanwu Xinsheng After USD100+ Million E+ Round
Lv Qian
DATE:  Sep 23 2020
/ SOURCE:  Yicai
Chinese Gadget Flea Market Aihuishou Is Now Wanwu Xinsheng After USD100+ Million E+ Round Chinese Gadget Flea Market Aihuishou Is Now Wanwu Xinsheng After USD100+ Million E+ Round

(Yicai Global) Sept. 23 -- The operator of China's Aihuishou has secured over USD100 million in its Series E+ round of financing and will change the used electronics trading platform's name to Wanwu Xinsheng.

JD.Com and Guotai Junan International Holdings jointly led this round of financing, Shanghai-based Yueyi Network Information Technology said in a statement yesterday.

Wanwu Xinsheng will use the funds mainly to improve its user experience, competitiveness, and to expand in international markets.

In June 2019, the electronics platform merged with JD.Com's marketplace Paipai to operate the Beijing-based e-commerce giant's second-hand product inventory and sales.

Aihuishou's business has grown despite the Covid-19 pandemic. Its daily trade volume has exceeded 70,000 units and its monthly transaction volume has surpassed CNY2 billion (USD294.8 million), according to the firm.

Editor: Tang Shihua, Emmi Laine 

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Keywords:   Financing,Second-Hand Products,Electronic Products,E-Commerce,JD.Com,Aihuishou