Warburg Pincus bets on Chinese e-commerce platform

Warburg Pincus has invested in Chinese B2B e-commerce platform Yijiupi as it tries to gain a foothold in the country's booming FMCG sector.

Warburg Pincus has invested $100 million in Chinese B2B e-commerce platform Yijiupi's follow-on Series D funding.

Proceeds will be used to expand Yijiupi’s services and to build a retail presence.

Yijiupi started life as a wine wholesaling platform in 2014. It received more than $159 million between 2014 to 2016, from investors such as Meituan, Lighthouse Capital and Source Code Capital. In September last year, it raised $200 million from Tencent, China Everbright Limited, Meituan and others.

With support from big players like this, Yijiupi expanded its business to non-alcoholic beverages in 2016, and then to supply chain finance in 2017. The platform...

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