Lvyouquan raises RMB120 million
Shanghai-based Pipikou.com recently announced its B2B platform Lvyouquan successfully raised RMB120 million in its latest round of financing.
TravelDaily – Shanghai-based Pipikou.com recently announced its B2B platform Lvyouquan successfully raised RMB120 million in its latest round of financing winning a joint investment from three elite funds – Principle Capital, China AMC and Haitong Securities.
Pipikou.com’s Lvyouquan is a B2B platform that offers product booking, transaction and warranty services for upstream suppliers and downstream travel companies. Using internet technology and products and distribution channels integration, the platform has developed a newer and more efficient distribution model for upstream suppliers. The platform also offers a wide-range of cost-efficient products to downstream travel companies while providing internet- and mobile-based O2O marketing tools for agencies to optimize sales.
The investors said Pipikou.com’s Lvyouquan is a completely open independently operated third-party B2B transaction platform which is rare in a travel industry crowded with offshoots of traditional travel suppliers or semi-open distribution B2B platforms.(Translation by David)