Aihuishou Closes E+ Round of Financing of Over USD 100 Million, Led by

Consumer Staples Author: Yue Liu Editor: Luke Sheehan Sep 22, 2020 06:05 PM (GMT+8)

At present, the scale of China's used goods transactions exceeds CNY 500 billion. It is still growing at a high speed every year and may reach the trillion level soon.

Image credit: EqualOcean

The second-hand trading platform, Aihuishou, completed an E+ round of financing of more than USD 100 million, led by and Guotai Junan Securities, followed by Guohe Capital, Fresh Capital and Yifeng Capital.

In June 2019, Aihuishou merged with 'Paipai,' a second-hand trading platform backed by After the merger, Aihuishou began to comprehensively operate second-hand, idle, inventory, resale and other businesses based on 3C categories on the platform.

Up to now, the group's single-day 3C product transaction volume has exceeded 70,000 units, of which C2B recycling exceeded 15,000 units, B2B platform transactions exceeded 40,000 units, B2C retail transactions exceeded 10,000 units and overseas business and other transactions exceeded 5,000 units. The group has achieved the closed-loop of the entire industrial chain of C2B, B2B, and B2C.

The three Internet giants have also joined the battle. Alibaba's Xianyu is the largest trading platform for idle items in China, with more than 300 million users. Backed by Tencent, Zhuan Zhuan also has a powerful WeChat traffic entrance. It is foreseeable that the competition among Alibaba, Tencent and in the second-hand transaction e-commerce field will intensify in the future.