Home furnishing company Bofu Group has provided $19.5m of seed funding for China-based online e-commerce platform Wanxie Cloud Mall, China Money Network reported yesterday.
Wanxie, launched in June this year, offers both an online and offline solution to shopping, operating an e-commerce website and brick-and-mortar stores.
The company, which specialises in shoes, will use the investment to expand its network of physical locations across China.