Installment Plan E-tailer Qufenqi Lands USD 9-digit Series C
Sina Tech, 12/02/14
Beijing-based Kuaile Shidai, operator of online shopping site Qufenqi.com, recently completed USD 9-digit Series C funding from previous investors BlueRun Ventures and Source Code Capital. The current round of funding will be used to continue strengthening Qufenqi's student-targeted, installment-plan online shopping, as well as to promote a new recruiting website targeting white-collar workers, dubbed "Laifenqi."
Qufenqi.com, which launched in March 2014, includes three platforms covering installment-plan payment, P2P financing services, and part-time job postings for students. The site has attracted angel investment from several entrepreneurs, including Autohome (NYSE: ATHM) founder Li Xiang, Okaybuy founder Li Shubin, Ourgame (6899.HK) founder Bao Yuejiao, KTV app developer Kuzhi Technology founder Chen Hua, and Plum Ventures founder Wu Shichun. In April, BlueRun Ventures led USD 7-digit Series A funding for the company. In August, Qufenqi won USD 8-digit Series B funding from Source Code Capital and BlueRun Ventures. Qufenqi.com broke the RMB 10 mln single-day sales mark in October.
Editor's Note: For more information on this topic, please see "Student-targeted E-commerce Site Qufenqi Lands USD 8-digit Funding," MD 08/15/14 issue.
Keywords: financial services Chen Hua Li Xiang Wu Shichun e-commerce Internet funding BlueRun Li Shubin Plum Ventures Kuaile Shidai Qufenqi Source Code Capital VC third-round installment plan B2C Laifenqi online recruiting
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