Community Group-Buying Platform Linlinyi Raises Tens of Millions of Dollars in Series A Funding Led by Source Code Capital
"Good products, fair prices"
Community group-buying platform Linlinyi announced it has closed a Series A round of tens of millions of US dollars, co-led by Source Code Capital and Gaorong Ventures, with HSG participating. Just over a month ago, Linlinyi completed a seed round of tens of millions of RMB from HSG.
Yiwen Hao, a board member of Linlinyi and investor at Source Code Capital, said that community fresh produce group-buying brings innovation to both supply chain organization and last-mile delivery close to consumers. Source Code is bullish on the long-term potential of this sector. The Linlinyi team currently holds a leading position in East China and brings deep industry experience. We are honored to participate in this round and will support the company's growth over the long term.
Since the second half of this year, community group-buying has arguably become the most closely watched track in consumer investing. As markets and capital search for the next Meituan, the next Pinduoduo, they have turned their attention to community group-buying — which uses online communities to reduce channel costs and relies on offline neighborhoods to cut logistics expenses.
Xiaolong Xiao, Chairman of Linlinyi
Xiaolong Xiao, Chairman of Linlinyi, said that at this stage, Linlinyi's main focus remains on business expansion. The company currently covers 15 cities and thousands of communities in East China, maintaining month-over-month compound growth of over 50%, with monthly GMV in the tens of millions of RMB. Linlinyi's overall infrastructure is gradually improving, building its moat across supply chain, community leader operations, and software and hardware systems.
In recent months, an increasing number of community group-buying projects have emerged, with top-tier investors placing their bets. From an industry perspective, Xiao noted, community group-buying will inevitably go through a "hundred-group war" phase from fragmentation to consolidation. As the sector matures, roughly 70% of the market may end up with the leading players, 20% with the second tier, and the remaining 10% with scattered small merchants across local markets. This process could play out within three to five years, so today we must lay the groundwork for tomorrow.
- Hiring
Linlinyi is based in East China and is currently seeking talent in technology, human resources, supply chain, merchandise management, and operations. The company also welcomes candidates with experience as direct sales or insurance training leads.
If you're interested in community group-buying, send your resume to: 001@linlinyi.cn
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