On July 12, China's largest electronics recycling and trade-in platform love recycling announced that it has completed a new round of financing of US$150 million, which is by far the largest single financing in the global electronics recycling industry. This round of financing is funded by Tiger Global Fund. Exclusive lead investment, Jingdong Group and investment, Thai joint venture as an exclusive financial advisor. After the completion of this round of financing, love recycling valuation has exceeded 1.5 billion US dollars.
Previously, Love Recycling has completed four rounds of a total of $132 million in financing, including Morningside Capital, Jingdong Group, World Bank-owned IFC Group, Kaihui Sino-French Fund, Tiantu Capital, Jinglin Capital, and Dachen Venture Capital. investment.
Compared with the global second-hand electronic products market, the growth rate of domestic electronic products consumption has shown signs of slowing down. How to convert old users into new users has become an urgent problem for all platforms and manufacturers.
In this regard, Jingsheng Group senior vice president, Jingdong Fashion Life Group President Hu Shengli said that with the gradual deepening of the retail industry, more and more new consumption began to appear in the online trade-in scenarios. And love recycling offline system The layout is also in line with the general trend. It currently has 260 self-operated stores, and in the next three to five years, this number may become 1000, plus the aid of recycling self-recovery machines, one with tens of thousands of points. The retail network is gradually taking shape. The future of these points is not only the most convenient recycling scene, but also the most accurate trade-in scene. It will also become an important part of unbounded retail.
When talking about this round of financing, Guo Ruyi, the founding partner of the Thai joint venture, said that with the changes in the capital market environment, the focus of the middle and late capital on the startups has long been more than the growth rate and absolute scale. The company's operational health and profitability are also It has become more and more important. Love to rebuild strong supply chain and operational capabilities has established a strong barrier to it, and also laid a solid foundation for the establishment of a global service network. The team's stable and stable style guarantees its stable profitability, while moderately redundant The remaining innovation mechanism guarantees a long-term healthy business status. I believe these are important factors in the recycling of love in this round of financing favored by many institutions.
For the purpose of this round of financing, the founder of Love Recycling, CEO Chen Xuefeng said that as an industry benchmarking company, Future Love Recycling will continue to exert its efforts on the user experience side to create standardized, refined and e-commerce transactions for B-end users around the world. Experience. Empower more global partners to promote the development of circular economy. At the same time, Love Recycling will speed up the optimization of user information security, recycling service experience, etc., to provide C-end users with more convenient, safe, temperature-oriented Recycling experience. Advocating environmental protection with commercial strength, calling on users to participate in the action of 'will use it all, make the best use of it'.
On July 12, China's largest electronics recycling and trade-in platform love recycling announced that it has completed a new round of financing of US$150 million, which is by far the largest single financing in the global electronics recycling industry. This round of financing is funded by Tiger Global Fund. Exclusive lead investment, Jingdong Group and investment, Thai joint venture as an exclusive financial advisor. After the completion of this round of financing, love recycling valuation has exceeded 1.5 billion US dollars.
Previously, Love Recycling has completed four rounds of a total of $132 million in financing, including Morningside Capital, Jingdong Group, World Bank-owned IFC Group, Kaihui Sino-French Fund, Tiantu Capital, Jinglin Capital, and Dachen Venture Capital. investment.
Compared with the global second-hand electronic products market, the growth rate of domestic electronic products consumption has shown signs of slowing down. How to convert old users into new users has become an urgent problem for all platforms and manufacturers.
In this regard, Jingsheng Group senior vice president, Jingdong Fashion Life Group President Hu Shengli said that with the gradual deepening of the retail industry, more and more new consumption began to appear in the online trade-in scenarios. And love recycling offline system The layout is also in line with the general trend. It currently has 260 self-operated stores, and in the next three to five years, this number may become 1000, plus the aid of recycling self-recovery machines, one with tens of thousands of points. The retail network is gradually taking shape. The future of these points is not only the most convenient recycling scene, but also the most accurate trade-in scene. It will also become an important part of unbounded retail.
When talking about this round of financing, Guo Ruyi, the founding partner of the Thai joint venture, said that with the changes in the capital market environment, the focus of the middle and late capital on the startups has long been more than the growth rate and absolute scale. The company's operational health and profitability are also It has become more and more important. Love to rebuild strong supply chain and operational capabilities has established a strong barrier to it, and also laid a solid foundation for the establishment of a global service network. The team's stable and stable style guarantees its stable profitability, while moderately redundant The remaining innovation mechanism guarantees a long-term healthy business status. I believe these are important factors in the recycling of love in this round of financing favored by many institutions.
For the purpose of this round of financing, the founder of Love Recycling, CEO Chen Xuefeng said that as an industry benchmarking company, Future Love Recycling will continue to exert its efforts on the user experience side to create standardized, refined and e-commerce transactions for B-end users around the world. Experience. Empower more global partners to promote the development of circular economy. At the same time, Love Recycling will speed up the optimization of user information security, recycling service experience, etc., to provide C-end users with more convenient, safe, temperature-oriented Recycling experience. Advocating environmental protection with commercial strength, calling on users to participate in the action of 'will use it all, make the best use of it'.
