A partner of China Everbright Ltd, and IDG Capital Partners, the Everbright-IDG Industrial fund was the only Chinese leading investor in the Series F round. Other top investors were Temasek Holdings, DST, Third Point Ventures, Founders Fund and several top international institutional investors.
The size of the deal were not disclosed.
After four years of operation, Wish became one of the most popular mobile shopping apps in Europe and the US. It has evolved into a gigantic B2C platform in terms of both trading volume and operating scale. The company was also reported to have raised about $500 million in its previous funding round in November last year.
Earlier this month, Wish mobile app ranked number one in shopping category in 27 countries, 7th overall in Android Google Play appstore, and ranked 14th overall in iOS US appstore.
“As the world’s largest unlisted provider of full mobile cross-border e-commerce capabilities, Wish primarily targets young people and medium- and low-income groups in developed countries across Europe and the US, where penetration of the retail mobile terminal markets is less than 2 per cent – compared to 19 per cent in China – and where medium- and low-income customers account for over 60 per cent of mobile payments,” Everbright-IDG Industrial said, in a statement.
In Beijing last December, the vehicle concluded a strategic framework agreement with Wish for comprehensive, in-depth cooperation to leverage the strength of each other’s resources.