Consumer electronics producer Xiaomi has led a $100m series D1 round for China-based online marketplace operator Zhuan Zhuan, DealStreetAsia reported on Friday.
Venture capital firm Shunwei Capital and private equity fund Advantech Capital also participated in the round.
Zhuan Zhuan has built an online platform where users can buy and sell a variety of second-hand consumer products including clothing, homeware and electronics.
The company also operates a business-to-business subsidiary called Caihuoxia, which received $45m in a series C round led by Zhongding Capital in June 2021.
Classified listings operator 58.com launched Zhuan Zhuan in 2015, before later spinning off the business with $200m of series A funding and resources from internet and gaming group Tencent.
58.com and Tencent then took part in a $300m series B round for Zhuan Zhuan in September 2019, after which 58.com remained its majority shareholder. The company subsequently collected $390m from Greater Bay Area Homeland Development Fund and Qingyue Fund in April this year.