HRX Asset leads $14m round in China’s used goods platform Liequ

Photo: Liequ.

China’s Liequ, a platform that allows the trading of used products, has secured RMB100 million ($14 million) series A investment led by HRX Asset, a fund management firm based in Shenzhen.

Founded in 2014, Liequ is present in more than 300 cities in China, Hong Kong, Macau and Taiwan.

According to a report by China Money Network, Liequ has an annual merchandise value of over RMB100 million.

Liequ aims to become one of the premier national platforms for used goods in China. it hawks products from cars to electronics and luxury items on its portal.

The online used goods market in China is gaining currency given that e-commerce conglomerate Alibaba Group’s online retail platform Taobao launched a platform for second hand products, Xian Yu. It is currently facilitating sales of about 200,000 used goods daily.

Before Alibaba’s Xian Yu, classified sites for used products like Ganji and 58.com were already present in the market selling used products. Ganji was later purchased by 58.com for about $412 million. It also bought Ganji’s second hand auto sales platform, Guazi.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.