5miles Secures $30M in Series B Funding

5miles5miles, a Dallas, Texas- and Beijing-based mobile marketplace app, secured $30m in Series B funding.

Backers included Blue Lake, IDG, Morningside and SIG-China (part of the Susquehanna Investment Group) as well as individuals with ties to ecommerce giants, Alibaba and eBay.

Launched in January 2015, 5miles is a hyper-local mobile marketplace app, which includes services, housing and jobs, in addition to second-hand trading. The platform offers a proprietary messaging system that keeps contact information private.
The company, which has raised more than $50m in total, has over 5 million users (averaging 30,000 downloads a day) with buyers and sellers in major markets coast-to-coast.



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