Wangzhu Group, a China-based e-commerce platform focused on construction materials and home decoration, has raised $60m in a series A round featuring real estate services company E-House, China Money Network reported on Monday.
Venture capital firm Sequoia Capital led the round.
Newly formed Wangzhu reunites three distinct entities: Greentown E-commerce, which operates as a subsidiary of property developer Greentown China Holdings, as well as Wuniu E-commerce and Qianjinding.
Wangzhu provides business-to-business, business-to-consumer and online financing services for construction companies and homeowners.