B2C export e-commerce company Orderplus has scored a RMB 100 million Series B investment led by CathayCapital, 36Kr reported on Thursday.
The new funds will be used to attract talent, upgrade the company’s IT system, and expand into new markets. The company partners with more than 50 garment and cosmetics factories in China. Its designers help them adapt their samples for mass production, and then Orderplus sells those products under its own brands via 700 independent websites for consumers mainly in Europe and the United States. The company plans to leverage on short video apps and social media platforms for its expansion in Southeast Asia.
Orderplus was set up in 2014 in Xi’an, the capital of Northwest China’s Shaanxi province. It pulled in RMB 2 billion in revenue in 2019, doubling from the previous year, and booked slightly more than RMB 100 million in profits.
36Kr is KrASIA’s parent company.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.