China-based mobile e-commerce platform operator MMB.cn has closed its series D round after raising an undisclosed sum from investors including e-commerce company JD.com and internet portal Tencent, China Money Network reported on Friday.
The round also included venture capital firm Sequoia Capital and additional, undisclosed investors. It followed a series C round reportedly sized at $200m that was backed by Tencent, Sequoia and semiconductor maker MediaTek in March 2014.
Founded in 2006, MMB, which also trades as Maimaibao, provides a mobile commerce offering that targets consumers outside of major metropolitan centres.
Tencent reportedly took a controlling shareholder position in MMB as of 2012. MMB reportedly raised $65m from Tencent, Sequoia and Far East Holding Group, a holding company representing the family of entrepreneur Deacon Chiu, between 2007 and 2012.
As of the series D round, MMB has agreed form a strategic partnership with JD.com that will involve the companies partnering on logistics, warehousing and inventories.