China-based fashion e-commerce Club Factory picked up $100m yesterday in a series D round featuring Bertelsmann Asia Investments (BAI), a regional corporate venturing subsidiary of media group Bertelsmann.
Venture capital firm Qiming Venture Partners led the series D round, which also included funding from fellow VC firm Frees Fund.
Founded in 2014, Club Factory operates a cross-border online marketplace where customers can purchase clothes, accessories, beauty products and jewellery from a network of merchants.
The company employs artificial intelligence technology to make recommendations and calculate affordable prices. It is available in Southeast Asia, the Middle East, Europe, the US and India, with the latter accounting for 40 million of its 70 million users.
BAI previously contributed to a $100m series C round for Club Factory in February 2018 together with Frees Fund, IDG Capital, Kunlun Venture Capital and ZhenFund. The corporate had already led its $20m series B round in early 2017, according to China Money Network.
Club Factory had initially raised an eight-digit renminbi (RMB10m = $1.5m) amount in a 2016 series A round led by Frees Fund, the company disclosed this week.
