Chinese cross-border e-commerce platform Club Factory raised $100 million in a series D round funding at the beginning of 2019. The investment was followed by a number of domestic and overseas funds including Qiming Venture Capital, and its previous stakholders BAI and Frees Fund. Huaxing Capital was the exclusive financial adviser of this investment which will be used to get access to Indian buyers, increase product categories, and build a data platform.
Established in 2016, Club Factory’s monthly active users in India has surpassed those of Snapdeal and Amazon. It has been on par with Filpkat t become the third most popular e-commerce platform in India. According to SensorTower, Club Factory surpassed Amazon and Flipkart to become the second most downloaded shopping app in the world in August.
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