Fresh Buddy raises $100 Mn in series B round funding

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Fresh Buddy, the Chinese social e-commerce app on Thursday said that “It has raised $100 million in a series B round funding.”

The round was led by Genesis Capital (A growth-stage investment firm founded by two former Tencent executives), SIG China, DCM Ventures and Vision Plus Capital with the participation of China Renaissance serving as the exclusive financial advisor.

The company in its statement said that “Fresh Buddy has a plan to spend the proceeds to strengthen its supply chain and logistics center.”

Fresh Buddy, is a project incubated by Miss Fresh (Known as Meiri Youxian in China), Fresh Buddy sells and delivers vegetables and fruits, and it also gives the cash rewards to the users when the refer other people to use the app.