Jiuxian.com, a China-based online alcoholic beverage retailer backed by alcohol producer Yuekeung Winery, has received regulatory approval to list on China’s National Equities Exchange and Quotations market, China Money Network reported on Friday.
Jiuxian claims to be China’s largest alcohol e-commerce company, specialising in high-grade wines. It is also launching an on-demand wine and beer delivery service called Jiukuaidao.
The company has raised about $225m in funding, most recently securing $80m in series G funding in August this year led by Merrysunny Wealth closed at a valuation of about $1bn.
State-owned financial services firms China Merchants Bank, Minsheng Bank, Shanghai Pudong Development Bank and Jinzhou Bank funded its $48.8m series F round in August 2014.
Yuekeung invested $20m in Jiuxian in 2011, and other investors in the company include Rich Land Capital, Oriental Fortune Capital, Shenzhen Oriental Fortune Capital, China Renaissance, China Development Bank Capital and Sequoia Capital.