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July 13, 2018

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Aihuishou gets US$150m in latest funding

AIHUISHOU, an online second-hand consumer electronics trading platform, said yesterday that it raised US$150 million in the latest round of financing, giving the company a market value of US$1.5 billion.

Tiger Global Management and led the latest investment. Previously, Aihuishou had secured four rounds of financing valued at a total of US$132 million, with investors including Morningside,, IFC, Cathay Capital, Tiantu Capital and Greenwoods Investment.

Aihuishou will use the US$150 million to invest in information security. The company will open more directly-owned outlets in China, said Chen Xuefeng, founder and CEO of Aihuishou.

Founded in 2011, Aihuishou pays consumers for used smartphones and iPads and re-sells them for profit.

Its 100,000 outlets in China generate an annual trade volume of 4 billion yuan (US$6.06 billion).



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