Tencent-backed grocery delivery service Missfresh raises $495m

Tencent-backed grocery delivery service Missfresh has pocketed $495 million in a new funding round led by CICC Capital, as China’s fresh produce e-commerce market enjoys a rising growth momentum during the coronavirus pandemic.

The new round, which marks one of the largest investments in China’s fresh produce delivery field, was backed by Tencent, Goldman Sachs Asset Management, private institutional investment house Abu Dhabi Capital Group (ADCG), and Tiger Global Management, said China Renaissance, the exclusive financial adviser of the deal, in a WeChat post on Thursday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter