Online Shopping Rebate Firm 51Fanli Lands USD 20 Mln Series B

21st Century Business Herald, 5/28/14

Chinese online rebate and consumer directory website 51Fanli.com, operated by Shanghai Zhong Yan Information Technology, has landed USD 20 mln in second-round funding from SIG Asia Investment. 51Fanli previously received USD 8-digit first-round funding from Qiming Venture Partners and Disney's venture capital firm, Steamboat Ventures.

51Fanli currently has more than 35 mln users, with yearly transaction volume exceeding RMB 10 bln. The company has approximately 400 cooperative partners at present, including Alibaba Group's Tmall and Taobao e-commerce sites, Beijing-based B2C e-commerce platform JD.com (Nasdaq: JD), Ctrip (Nasdaq: CTRP), Yihaodian, Amazon China, Dianping, and Jumei (NYSE: JMEI).

According to 51fanli CEO Gary Ge, mobile revenue currently accounts for more than 50% of the company's total revenues.

Editor's Note: For more information on this topic, please see "Online Rebate Site 51Fanli Lands USD 8-Digit Funding," MD 7/26/11 issue.

Keywords: Zhong Yan e-commerce Internet funding users B2C SIG second-round transaction volume 51Fanli online shopping rebate

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