Ping An Ventures, the corporate venturing arm of insurance group Ping An, has led a $200m funding round for China-based social e-commerce platform Mogujie, China Money Network reported today.
The round also included private equity and venture capital firm Tiantu Capital, according to local media reports.
Founded in 2011, Mogujie operates a social media site and app aimed at women that leverages its user base to sell consumer items. It intends to use the funding to enhance its product range and expand into finance provision for its customers.
Mogujie previously raised $200m in series D funding in June 2014 at a $1bn valuation. That round featured IDG Capital Partners, corporate venturing affiliate of media company International Data Group, as well as Magnolia Fund, Hopu Fund, Qiming Venture Partners, TBP Capital and Banyan Funds.
Mogujie received $1m in series A capital from Bertelsmann Asia Investments, a subsidiary of media group Bertelsmann, and TrustBridge Partners in 2011, before securing $10m from Bertelsmann and Qiming in 2012 and an undisclosed sum from IDG Capital later the same year.