Fanhuan.com Lands Seven-Figure USD Funding

Netease Tech, 7/12/12

Xiamen-based online shopping rebate website operator Linggan Fangzhou Information Technology (Fanhuan.com) has announced it has obtained several million USD in funding led by China Renaissance K2 Ventures, with VC firm ZhenFund also participating.

Fanhuan CEO Chen Fangyi said the company, established in 2008, currently has 4 mln registered users and offers rebates of 5-6% for purchases on over 800 e-commerce partners including Taobao, Dangdang (NYSE: DANG), Amazon, and Vancl. Fanhuan generates an average of RMB 100 mln in monthly sales volume for its merchant partners, offering an average of RMB 5 mln in rebates each month.

Fanhuan's competitors include 51Fanli.com and Caimaobuy.com.

Keywords: Linggan Fangzhou Fanhuan ZhenFund Chen Fangyi Caimaobuy B2C e-commerce Internet funding 51Fanli China Renaissance K2 Ventures online shopping rebate reward

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