Chinese community retail brand Nice Tuan announces USD80m Series C2 round

2020-08-02
|
Isiah Liu

Chinese community retail brand Nice Tuan announces USD80m Series C2 round

On July 29, Chinese community retail brand Nice Tuan announced the completion of a Series C2 financing round worth 80 million US dollars. The round was led by CDH, with participation from GGV Capital, INCE Capital Partners and Minyin International.


Proceeds from this round of financing will be used to strengthen the basic capabilities of warehousing and distribution and enhance the commodity supply chain system. In the meantime, Nice Tuan will launch a comprehensive market growth plan and make great strides to promote sustainable growth.


At the end of May this year, Nice Tuan has just completed its Series C1 financing round worth 81.4 million US dollars led by GGV Capital.


After obtaining the new Series C2 round of financing, the total amount of financing for the company has reached nearly 300 million US dollars.


Nice Tuan is an operator of a community e-commerce platform. The company partners with local residential communities and sources products from local warehouses and producers to offer comprehensive daily groceries and household items to local residents, aiming to establish an efficient and convenient community e-commerce ecosystem with specific focus on daily groceries and fresh produce.


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