Jiuxian.com, a Beijing, China-based online alcohol retailer, secured an additional 500m yuan in its 7th round of financing.
The round, which valued the company at 6.5 billion yuan, was led by Merrysunny Wealth.
The company intends to use the funds to further expand its market share in the B2C field, and accelerate the development of its online-to-offline (O2O) business, jiukuaidao.com, and its line of customized brands for online sales channels.
Led by chairman Hao Hongfeng, Jiuxian.com has built out 5 business segments:
online alcohol retail — Jiuxian.com (B2C);
integrated branding services;
real-time services — jiukuaidao.com (O2O);
creation of customized brands for online sales channels; and
online special offers — zhongniang.com (B2B).
The company, which had raised 930m yuan during the first 6 rounds, is expected to submit an application for a listing on China’s new over-the-counter (OTC) equities market within the next month.
Past investors included Sequoia Capital, Shenzhen Oriental Fortune Capital, China Renaissance and China Development Bank Capital.