Chinese Second-Hand Luxury Goods Retailer Secoo Completes Series C Round

Beijing-based Chinese second-hand luxury goods retailer Secoo Holding Limited says it has completed series C financing.

The company says it raised funds in "tens of millions of U.S. dollars," but it didn’t specify the exact amount raised.

The investment is led by Vangoo Capital Partners. IDG Capital Partners, Ventech Capital and Crehol Capital also participated in the round.

Secoo says it intends to use the proceedings to expand marketing, upgrade its website, as well as for general business purposes.

Founded in 2008, Secoo sells second-hand luxury goods through its online platform and retail stores. The company has three retail stores in Beijing, Shanghai and Chengdu. Around 600,000 members are registered on Secoo’s website.

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