, a China-based cross-border e-commerce company, has raised a $100 million Series D, according to various news reports.
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led the round, which also included participation from , , and 鈥淔ortune 500 companies in Asia and the United States,鈥 according to the . The financing brings Club Factory鈥檚 to a known $220 million, according to 小蓝视频色情网页版 data. Interestingly, its last raise was in February 2018. (I say interestingly because it鈥檚 unusual for companies to raise the same amounts in their Series Cs and Ds.)
In the fall of 2013, then 25-year-old left his job at Facebook to start Club Factory. According to the company鈥檚 , Lou 鈥渘ever expected to work in fashion, but a passion for great products and frustration with the lack of transparency in price, led him to build Club Factory.鈥
The company claims to sell 鈥渢rending items鈥 for 50 to 80 percent less than what they would go for on other popular e-commerce sites such as Wish, eBay and Amazon. It does this by letting customers shop directly from factories it finds with its patented big data technology.
In September, KrAsia that India had become Club Factory鈥檚 biggest market. According to the publication, Club Factory had 鈥減ipped Snapdeal in terms of monthly active users (MAU) to rank third behind and ,鈥 which is based in India.
According to , Club Factory has seen more than 10x growth in the past six months for its Indian SME business largely due to its zero-commission strategy, 鈥渨here the sellers are able to transfer the cost-benefit to the users.鈥
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