Cross-Border B2B E-commerce Firm Xyb2b Raises USD 100 Million
The company provides 60,000 small-and-medium-sized enterprises with one-stop delivery services, enables them to focus on end-user experience and marketing. It expects to generate CNY 15 billion (USD 2.11 billion) GMV this year.
Xyb2b (行云), a Chinese cross-border B2B e-commerce platform announced it has closed USD 100 million Series B+ round of funding, led by a state-backed fund for small- and medium-sized enterprises.
Its existing investor Eastern Bell Ventures, Matrix Partners followed in this round. Selling over 150,000 SKUs, the company aims to expand its product portfolio by acquiring more overseas brands agencies in hand; it plans to recruit talents to build a more agile e-commerce platform; Logistics is considered as infrastructure for e-commerce platform thus it looks to improve its supply chain development by connecting more supply chain service providers and building overseas warehouses.
The firm aggregates commodities provided by suppliers (distributors, retailers, and brands) and distribute goods for domestic B2C e-commerce platform and retailers with its own logistics and warehousing services.
It provides 60,000 small-and-medium-sized enterprises with one-stop delivery services, enables them to focus on end-user experience and marketing. Its KA (key account) clients include Pinduoduo (PDD: NASDAQ), Tmall, content and e-commerce platform xiaohongshu, and NetEase Kaola, a cross-border subsidiary of NetEase (NTES: NASDAQ).
Founded in 2015, the company now has formed partnerships with over 2000 brands from 40 countries, selling goods worth over CNY 6.24 billion (USD 879 million) on its platform in 2018. It expects to generate CNY 15 billion (USD 2.11 billion) GMV this year.
In 2018, China’s cross-border market surpassed CNY 9 trillion (USD 1.27 million), with an 11.6% year-on-year growth.