Blackfish Technology, a Shangai, China-based membership-based consumer service platform, completed a $50m series A+ round financing.
Backers included new investors Lightspeed Venture Partners, Rakuten Ventures, China Growth Capital, and Axpfund.com and old shareholders Lightspeed China Partners, Morningside Venture Capital, JAFCO Asia, Gobi Partners, and Fullshare Holdings Limited.
The company intends to use the funds to speed up the promotion of the membership system, to take the lead in reserving high-quality products and rights, and to expand the membership-based consumer service platform and horizontally integrate the services required by members to expand the process of digital content products.
Led by Conor Yang, co-founder and president, Blackfish Technology provides a consumer service platform, which uses mobile to carry the membership-based business model of “e-commerce + travel + service”, turns the users into members and fans, and provides users with an improved experience in the convergence of e-commerce functions. The company serves the “Millennial Generation” and “Generation Z”, which are the main consumers of global online shopping.
In the future, Blackfish Technology will establish a new consumption system for its members’ community, which will have a lot to do with optimizing the distribution of membership privileges and will make the whole process smoother.