China Digest: 52Panghu.com and Aikucun raise Series A funding

Photographer: Nelson Ching/Bloomberg

China’s second-hand luxury sales platform 52Panghu.com and sales and distribution firm Aikucun have raised Series A investment rounds.

Second hand luxury product platform 52Panghu.com raises $15m Series A

52Panghu.com, a second hand luxury goods platform trading platform, has raised a $15 million Series A led by Trinity Capital dedicated to technology, media and telecommunications industry.

Others who participated in the investment include 1898 Venture Capital and Shenzhen Yizan Investment Management Co Ltd.

Chinese consumers account to about a third of the spending for all luxury sales worldwide. Trinity Capital has about RMB500 million of asset under management with portfolios include Yiguo,Youpeiliangpin, ForceClouds and MofangHR.

Sales distribution firm Aikucun raises $15m Series A

Shanghai-based Aikucun, engaged in customer services, after-sale services, sales and distribution for brands and agents, has raised a $15 million Series A from Eastern Bell Venture Capital.

Eastern Bell Venture Capital seeks to invest in spaces like logistics, supply chain, energy saving, consumer, services, advanced manufacturing, e-commerce.

Prior to the latest investment, in January 2018, they have led a $23 million in Fuyoukache, an online truck logistics platform.

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