ShopEx, a China-based e-commerce software and service provider backed by several corporates, has raised RMB700m ($104m) in series D funding, Marbridge Daily reported on Thursday.
The round was led by venture capital firm Joy Capital and included China Renaissance K2 Ventures, New Alliance Capital, Tianxing Capital, Gopher Asset Management, and China Broadband Capital as well as unnamed, existing backers.
Founded in 2002, ShopEx develops software aimed at e-commerce merchants which integrates payment facilities and third-party technologies to facilitate financial and supply chain services.
The company’s software is used by companies such as Lenovo, the computer manufacturer owned by conglomerate Legend Holdings, which is also an investor in ShopEx, having invested a seven-figure dollar sum in ShopEx’s series A round in 2010 through its Legend Capital vehicle.
The fundng will support ShopEx’s work on mini stores and applets, utility applications that perform a set of simple functions.
ShopEx raised an eight-digit dollar amount in a 2011 round featuring Legend Capital as well as Bertelsmann Asia Investments, a corporate venturing subsidiary of media firm Bertelsmann, and Lenovo’s investment arm, Lenovo Capital.
E-commerce group Alibaba supplied an eight-figure renminbi amount for ShopEx through its series C round in 2012.