FruitDay Announces Completion of US$70 Million Financing

BEIJING, May 25, 2015 /PRNewswire/ -- FruitDay, the largest fresh produce e-retailer in China by revenue, today announced that it has completed a US$70 million Series C funding, the largest financing round in China's fresh produce e-commerce industry to date.

JD.com, Inc. (Nasdaq: JD), China's largest online direct sales company, was the lead investor in the round followed by an investor group including Susquehanna International Group (SIG) and ClearVue, both of which participated in previous financing rounds. The funds raised will be used for infrastructure construction, recruitment of management talent, business development and strengthening of FruitDay's upstream supply chain system.

As part of the investment, JD.com and FruitDay will enter into a strategic cooperation under which FruitDay will leverage JD.com's nationwide fulfilment infrastructure to help FruitDay expand to serve markets throughout China.  

Founded in 2009, FruitDay has become China's online leader in fresh produce through its deep dedication to quality and customer service. In order to ensure a truly world-class online shopping experience, FruitDay maintains strict quality control over the entire logistics process, including produce selection, transportation, storage, distribution and after-sale services. More than 80% of the fruit that FruitDay sells in China is imported from countries including the US, Australia, New Zealand, Chile and South Africa, among others, underscoring its leadership in the specialized sector of cold chain logistics. Over the past six years, FruitDay has experienced annual topline growth of over 150%, becoming China's largest fresh produce e-commerce company by revenue.

"For over six years, FruitDay's dedication to providing Chinese consumers with the best possible experience shopping for fresh produce online has helped us become the clear leader in this fast growing vertical," said FruitDay founder and CEO Wei Wang. "The financing announced today will allow us to continue strengthening FruitDay's market leadership as we build a world-class management team and further expand our cold chain logistics and upstream supply chain capabilities.

"We are delighted and honored that JD.com, China's largest direct sale e-commerce company, has recognized FruitDay's advantages in the fresh produce space. Our strategic partnership with JD.com will enhance FruitDay's ability to provide consumers throughout China with fresh produce from around the world in the safest, fastest and most convenient manner."

"With our shared commitment to providing consumers with the best online shopping experience, FruitDay and JD.com are natural partners as Chinese consumers increasingly shift to purchasing fresh produce online," said JD Mall CEO Haoyu Shen. "By combining JD.com's online e-commerce platform and nationwide logistics infrastructure with FruitDay's vertical leadership, more and more Chinese consumers nationwide will have the ability to purchase safe and healthy fresh produce online with confidence. As we build China's premier online e-commerce platform, JD.com will continue to explore long-term partnerships with leaders in key vertical markets."

About FruitDay 

Founded in Shanghai, China in 2009, FruitDay has rapidly grown to become China's largest fresh produce e-commerce company by revenue. With annual sales growth of over 150% since its founding, and over 80% of orders placed through mobile devices, FruitDay expects to have more than 10 million users in 2015, an increase of four times from the previous year. FruitDay's business is increasingly national in scope, with more than 60% of its orders originating outside the Shanghai area.  

For more information, please visit www.Fruitday.com

About JD.com

JD.com, Inc. is the largest online direct sales company in China. The company strives to offer consumers the best online shopping experience. Through its content-rich and user-friendly website jd.com and mobile applications, JD.com offers a wide selection of authentic products at competitive prices and delivers products in a speedy and reliable manner. The company has the largest fulfillment infrastructure of any e-commerce company in China. JD.com operated 7 fulfillment centers and a total of 143 warehouses in 43 cities, and in total 3,539 delivery stations and pickup stations in 1,961 counties and districts across China, staffed by its own employees.

CONTACT:

FruitDay
Hui Zhang
+86(21) 6036 8500
[email protected]

Yuan Fang
+86(10) 8569 9851
[email protected]

SOURCE FruitDay

Related Links

http://www.fruitday.com