Chinese venture capital firm Joy Capital has led a RMB700 million (US$105 million) series D round in Shopex, a Shanghai-based e-commerce software and services provider.
K2VC, New Alliance Capital, Tianxing Capital, Gopher Asset Management, CBC Capital, as well as Shopex's existing investors also participated in the round, according to a company announcement.
Founded in 2002, Shopex develops business-to-customer e-commerce software with payment channels. It provides services such as online retail transaction, supply chain management and financial payment tools by integrating third party resources.
The start-up has two primary product offerings. Shopex Yunqi provides retail, distribution and data management services to micro and small-sized enterprises. ONex provides customers with communications, interactive transactional and open platform capabilities to medium and large-sized enterprises. ONex currently has 3.3 million customers from 23 industries, such as SAIC Motor Co., Ltd., Lenovo Group Ltd. and Schneider Electric SE, the company says.
The firm has also developed a payment channel called Tiangong that aggregates the services of WeChat Pay, Alipay, Unionpay and commercial banks. In 2008, Shopex acquired its peer ecShop for a reported price of US$2 million.
It previously raised a series C round worth tens of millions of RMB from Alibaba Group Holding Ltd. in 2012. One year prior, it received a series B round worth tens of millions of U.S. dollars from Bertelsmann Asia Investments, Legend Capital and Lenovo Capital.
In 2010, it completed a series A round worth millions of U.S. dollars from unnamed investors. The company plans to use the latest proceeds to develop e-commerce platforms specifically for micro and small-sized enterprises in the maternity and infant care, pet, clothes, food and education industries.