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Rural E-commerce Platform Completes RMB 1 Bln Series A, 2/27/17

Shenzhen-based Maihuolang Information Technology, operator of rural e-commerce platform, recently completed RMB 1 bln in Series A funding from Shenzhen New Industry Venture Capital, Weiji Investment, and Qianhai GreatWall Fund.

Established in January 2014, is a rural third-party e-commerce platform which operates via its website, mobile app, and official account on Tencent's (0700.HK) WeChat mobile messaging app. Its main products are agricultural specialty foods, agricultural supplies, electric motorbikes and parts, and household appliances.

The company currently has approximately 220 offline county-level e-commerce operation centers across China and 28,500 e-commerce service stations at township and village levels. Its nationwide and local shops follow B2R (business-to-retailer) and B2C models to serve the rural agricultural industry by integrating online and offline data, cutting out middlemen, and modernizing rural information and commerce technologies.

In 2017, will launch logistics, training, and financial services to round out its "Internet+" network of services.

Keywords: Maihuolang Shenzhen New Industry Weiji Investment m-commerce wireless agriculture e-commerce Internet funding rural Qianhai GreatWall Fund Series A


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