Nice Tuan, a portfolio company of INCE Capital, announced the completion of the D round of financing of US$750 million. INCE Capital previously committed its investment in the B, C1 and C3 round.
This round of financing was jointly led by Alibaba and DST Global, followed by the D.E. Shaw group, Anatole Investment, Jeneration Capital, Dragoneer, CDH Investment, GGV Capital, Kunlun Capital, Franchise Capital and Cygnus Capital. Cygnus Capital continued to serve as the exclusive financial advisor for this round.
Nice Tuan, established in June 2018, is a leading community e-commerce company. So far, it has provided digital community e-commerce services to 1,598 cities and counties in 25 provinces across the country. At present, the number of Nice Tuan’s group leaders has exceeded 1 million with over 15 million of daily orders.
This round of financing for Nice Tuan will be mainly used to build the supply chain infrastructure in the lower-tier markets and strengthen the sourcing capability of fresh products. Building its presence though removing chokepoints in the supply chain of agricultural products, Nice Tuan is able to ignite the "internal engine" to boost agricultural product sales while providing users with unexpected service experiences, driving local economic development and creating higher social value.