Source Code Capital Portfolio Company Yijiupi Announces Additional Nearly $80 Million Investment from Tencent, Source Code Capital Led Series B

源码资本·August 21, 2019·0·0

Yijiupi has become a one-stop industrial internet platform for the entire FMCG category, successfully achieving full coverage of the fast-moving consumer goods industry.

Yijiupi, a rising star in the FMCG industrial internet space, has secured nearly $80 million in additional funding from Tencent. This marks Tencent's second investment in the company within just six months, following the $200 million round led by Tencent and Meituan in August 2018 and Warburg Pincus's $100 million investment in February 2019. LightSource Capital once again served as the exclusive financial advisor for this round.

Yijiupi has now expanded its market coverage to 140 prefecture-level cities and 500 county-level towns across 26 provinces. The platform's gross merchandise value (GMV) is projected to exceed 20 billion RMB this year, with over 15 billion RMB shipped directly from warehouses under Yijiupi's own management — putting it at the top of the FMCG B2B sector.

Beyond maintaining its dominant position in alcohol and beverages, Yijiupi has made significant breakthroughs in non-alcohol categories including drinks, packaged foods, snacks, and general merchandise. Non-alcoholic FMCG products now account for 70% of transaction value and 90% of items sold on the platform. Yijiupi has evolved into a comprehensive, one-stop industrial internet platform covering the full range of FMCG categories.

The Yijiupi ordering interface has been split into two independent channels — "Alcohol, Beverages & Packaged Foods" and "Snacks & General Merchandise" — making it one of the first in the industry to organize its display by terminal type and supply chain. This move signals clear ambitions toward becoming a more integrated, platform-based operation. Yijiupi has achieved broad penetration among mom-and-pop stores and has become their core ordering platform for daily restocking.

"Yijiupi has not only achieved horizontal expansion across categories, but also made progress in vertically empowering upstream and downstream players across the industry chain," said founder Chaocheng Wang. "Our direct factory-to-store, high-margin business has grown substantially, now generating hundreds of millions of RMB in annual revenue. Supply chain finance has cumulatively disbursed 4 billion RMB in loans over the past six months and is on track to surpass 10 billion RMB for the full year. Downstream initiatives including our managed retail chain Yi'erhui Wholesale Supermarkets, Yijiupi Retail, and Yikuan Snacks are all advancing at full speed. Overall, our vertical industry chain layout is enabling powerful operational synergies. With full data integration across all business lines at the technology layer, we are completing the digital transformation of the entire FMCG value chain to drive efficiency gains for all participants."

Chaocheng Wang, Founder, Chairman & CEO of Yijiupi

Amid an internet funding environment obsessed with "burning cash," Yijiupi has consistently demonstrated exceptional cost control and financial discipline, maintaining ample capital reserves. Having established itself as the undisputed leader in China's FMCG industrial internet space, the company continues to sustain high growth momentum. Going forward, it will leverage its long-accumulated competitive advantages in operations and data to pioneer new paths for the industry's development.