Plastics B2B E-commerce Site 'Zhao Suliao' Wins USD 36 Mln Series B
Tencent Tech, 7/28/15
Guangzhou-based Baisu Electronic Commerce, operator of plastics B2B e-commerce platform Zhao Suliao, recently announced that the company has won USD 36 mln Series B funding led by New Horizon Capital, with participation from GX Capital, Qiming Venture Partners, IDG Capital Partners, and Zhenshun Fund. Baisu will use the new funding over the next year on market expansion and IT systems upgrades to improve its market position and accumulate transaction data on the plastics industry.
The Zhao Suliao platform, used by both plastics suppliers and buyers to conduct business, currently boasts a monthly turnover of up to RMB 2 bln, and forecasts a total of up to RMB 35 bln for its FY 2015 turnover. According to its official website, the platform's average transaction volume is approximately RMB 300,000. Baisu plans to add logistics, financial, and other relevant services for its customers in the future.
Baisu, established in July 2014, won RMB 8-digit seed funding from Matrix Partners China and Zhenshun Fund in August 2014. The company won USD 20 mln Series A funding from Qiming Venture Partners and IDG Capital Partners in January 2015.
Keywords: Baisu Zhao Suliao funding VC B2B e-commerce New Horizon Capital Qiming Zhenshun GX Capital second-round IDGVC
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