Aug 01, 2018
Private equity firm Rainbow Capital and logistics solution provider GLP have led a US$150 million series C round in 51zhaoyou.com, a business-to-business petroleum e-commerce platform.
Tide Capital, Oceanpine Capital, and existing investors including GGV Capital, DCM, SIG, Sky9 Capital and Yunqi Partners, also participated in the round, according to 51zhaoyou.com’s announcement.
Founded in 2015, 51zhaoyou.com is a B2B petroleum trading platform, offering diesel, gasoline and kerosene. Its business includes petroleum trading services, logistic and financial services.
The company currently has more than 300 employees and operates in more than 50 cities across China. It recorded a revenue of RMB4.8 billion (US$704 million) in 2017.
In 2017, the company raised a US$31.8 million series B round led by DCM Ventures and participated by SIG, GGV Capital, Yunqi Partners and others.
It also raised a US$8 million funding round from GGV and Chuangban Investment last April. In 2016, it completed a US$10 million series A+ round from Sky9, Yunqi and SIG, and a US$3 million series A round led by SIG.
About Oceanpine Capital
Oceanpine Capital is a professional investment management firm dedicated to long-term investment with a focus on value creation. We provide long-term capital and professional value-added services to high-growth enterprises and start-up companies. We focus on investment opportunities in the TMT, consumption upgrade, advanced manufacturing, and healthcare sectors. We mainly invest in private companies with rapid growth, but also look at some opportunities in public companies.For more information, please visit http://oceanpine.net.