China’s Ushopal, a partner for luxury beauty brands, bags $100m led by FountainVest

Photo: Pixabay

Shanghai-based Ushopal, an omni-channel partner for luxury beauty brands, has bagged $100 million in a Series D round of financing led by FountainVest Partners, an Asian PE firm with investments across consumer, media and technology, healthcare, industrials and financial services. 

Existing investor Cathay Capital, a cross-border Chinese PE firm, re-upped in the current round. Ushopal also attracted a slew of new investors including state-backed fund of funds (FOF), Hengxu Capital, Zhongyuan Capital, and Dazhong Zhongsong Fund.

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