Yijiupi

Yijiupi is a Chinese FMCG industrial internet company founded by Wang Chaocheng, who serves as chairman and CEO , with Chen Shengqiang as co-founder and COO . The company operates a B2B platform serving retail and food-service terminals, and has positioned itself as a supply chain and retail terminal layer within a strategic triangle alongside Tencent (WeChat Pay/mini-programs) and Meituan (local consumer traffic, on-demand delivery) .

Source Code Capital, which backed Yijiupi from its Series B through Series D , has been its most visible institutional supporter, highlighting it as a case study in industrial internet . In September 2018, Yijiupi raised $200 million in Series D funding co-led by Meituan and Tencent , with the explicit aim of deepening operational collaboration—jointly building integrated supply chain capabilities across alcohol, food, and fresh grocery categories for China's roughly 7 million retail terminals and 8.5 million food-service outlets . Meituan's investment was notably driven by business-level strategic cooperation rather than purely financial returns .

In February 2020, Yijiupi acquired 100% of Zhangshangkuaixiao, a South China-based FMCG B2B leader, in a strategic merger that Source Code Capital framed as accelerating consolidation in the sector . The most recent material in elsewhere's corpus dates to 2021, when Source Code Capital continued listing Yijiupi among its portfolio companies .

Related coverage: Yijiupi was referenced in Source Code Capital's 2016 announcement of its $100 million Series C round , as well as in a January 2018 monthly update .