The popular Chinese noodles chain store is accelerating its path towards IPO.
On July 8, 2021, Hefumian raised CNY 800 million in series E, which is led by CMC capital, and followed by ZWC Partners, Tencent investment and Longfor Capital. According to the company, this round of financing will be mainly used for the whole industry chain system construction, brand optimization and digital transformation. Previously, in September 2020, the company raised CNY 450 million in series D. Within one year, the company has raised nearly CNY 1.3 billion.
Founded in 2013, the company began to produce Chinese pasta and successively entered the East China, North China, Central China and South China markets. It mainly focuses on high-end shopping malls in first- and second-tier cities. By the end of June 2021, the company has built more than 340 stores nationwide. According to the company, Hefumian is also trying to developed markets in third and fourth-tier cities, with targets including Shijiazhuang, Huizhou, Lishui and Zibo.
Hefumian's daily sales have exceeded 150,000 serves and annual active users (AAU) have exceeded 50 million. According to the company, the average revenue of Hefumian stores nationwide is CNY 550,000 per month, and the unit price of customers exceeds CNY 45, leading the industry. The company's revenue has been growing by a CAGR of 50% for many years, which makes it a company worthy of attention.