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China : AIHUISHOU completes IFC led US$8 million Series B financing

July 18, 2014

Shanghai-based Chinese online second-hand electronics recycling platform Aihuishou has announced completion of US$8 million series B financing which was led by the International Finance Corporation (IFC).

Earlier in 2012, Aihuishou received US$2 million in series A financing from Morningside Venture, which also took part in the latest series B round.

According to the firm, the financing proceeds will be used towards expanding the company's online user base, opening of new shops, and improving online & offline service experiences.

Aihuishou which was established in 2010, has 120 team members, with monthly transaction volume reaching more than RMB10 million.

During this August, it plans launch of an entrance site in China s second largest online retailer

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Source: TendersInfo (India)

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