(Yicai Global) Dec. 15 -- The wholesale e-commerce platform huoniuniu.com, owned by Guangzhou Huoniuniu Technology Co., has raised CNY20 million (USD3.03 million) in series-A financing. The platform will use the funds to try to transform the traditional wholesale market using Big Data and establish a national layout, reported online technology news outlet 36kr.com.

Yifeng Capital led this round of investment, with CNY15 million contribution, with the remaining part funded by other investors. The investment, thus, pushes up the valuation of huoniuniu.com to CNY200 million.

On huoniuniu.com, the wholesaler users only need to post their apparel styles and prices and the e-commerce buyers can just click to forward the information to their online shops. Concurrently, huoniuniu.com offers the purchase and delivery services for even a piece of clothing for small and medium-sized e-commerce buyers and provides complete after-sales services, thereby reducing their inventory pressures.

Huoniuniu.com has accumulated more than 600,000 small e-commerce users, with its daily active users reaching nearly 60,000. Most of the current small- and medium-sized e-commerce apparel buyers suffer inventory pressures as they do not understand the real-time market sales of apparels and can only obtain a lower wholesale price through a large number of purchases, huoniuniu.com said. Traditional wholesalers are also unable to inform more e-commerce buyers of the good apparel categories because of space and information constraints. This provides the opportunity for huoniuniu.com to operate a wholesale apparel platform.