Huimin Valuation, Funding & Investors

Huimin is valued at $506M as of September 2019.

Last Huimin valuation

$506M

Series C · Sep 2019

Last Huimin funding round

$225M

Series C · Sep 2019

Cumulative funding Huimin raised

$517M

across 3 funding rounds

Key investors in Huimin

  • GP Capital
  • 5Y Capital
  • Fortune Venture Capital
  • Morningside
  • ZSVC
  • China Renaissance

Huimin Overview

About Huimin

Huimin is a Chinese B2B e-commerce platform focused on fast-moving consumer goods, connecting suppliers directly to community supermarkets to lower customer acquisition and logistics costs. Founded in 2013, the company has grown into one of the largest players in China's FMCG B2B e-commerce market.


Founded

2013

HQ

ChinaChina

Website

huimin.cn

Status

Privately held

Customer focus

B2B

Revenue model

Commission

Valuation

$506M (Sep 2019)

Huimin Valuation

Huimin is currently valued at $506M, based on its Series C in September 2019.

The $225M round was led by Jinan Industrial Development Group, with participation from GP Capital, China Renaissance, Fortune Venture Capital and Fosun Capital.

Huimin's valuation has moved from $2.2B at its Series B in September 2016 to $506M in September 2019, across 2 priced rounds.

Huimin valuation by funding round

Huimin valuation by funding round
DateStageValuation
Sep 2019Series C$506M
Sep 2016Series B$2.2B

Huimin Funding History

Huimin has raised a total of $517M across 3 funding rounds.

Huimin's first fundraising round was a $100M Series A in January 2015. The most recent completed round was a $225M Series C in September 2019.

Huimin funding rounds

Huimin funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2019Series CJinan Industrial Development Group (lead); GP Capital; China Renaissance; Fortune Venture Capital; Fosun Capital$225M$506M-
Sep 2016Series BChina Innovation Inv (lead); China United SME Guarantee Corporation (lead); GP Capital; Western Securities; 5Y Capital; ZSVC$192M$2.2BHuimin.cn, a B2B e-commerce company in China, reached unicorn status with a valuation of $2 billion in September 2016.
Jan 2015Series AGP Capital (lead); Morningside (lead)$100M-Huimin (中商惠民) is a Chinese B2B e-commerce platform focused on fast-moving consumer goods (FMCG), connecting suppliers to community supermarkets with low customer acquisition and logistics costs. Founded in 2013, it has raised over CNY 3 billion (USD 421 million) from more than a dozen investors by 2019. An extended Series A round occurred in 2015, introducing investors including China Renaissance and Fosun Capital, but GP Capital and Morningside are noted in aggregate funding histories without specific 2015 details. The prior confirmed round to the 2019 CNY 1.6 billion (USD 225 million) corporate round was Series B on September 4, 2016, raising CNY 1.3 billion (USD 182 million). Unicorn lists from 2016-2017 cite Huimin at $2 billion valuation as of September 5, 2016, with investors Zheshang Venture Capital, GP Capital, and Western Capital Management. No valuation is tied explicitly to the 2015 round. In September 2019, Huimin raised USD 225 million led by Jinan Industry Development Fund, with participation from Fortune Capital, GP Capital, Fosun Capital, and China Renaissance, boosting post-money valuation above USD 2.24 billion. Funds supported commodity circulation, digitization, ecosystem building, and hiring. This marked the largest single-round deal in China's FMCG B2B e-commerce market then. No sources report revenue, ARR, or EBITDA for 2015 or near the queried round. Aggregate funding totals appear in unicorn reports (e.g., $519.63M over 4 rounds), but lack per-round breakdowns or financial metrics. GP Capital and Morningside appear in broader investor lists, not isolated to 2015 valuation details.

Who has invested in Huimin?

11 investors have backed Huimin across its funding rounds, including GP Capital, 5Y Capital, Fortune Venture Capital, Morningside, ZSVC and China Renaissance.

Lead investors include Jinan Industrial Development Group, China Innovation Inv, China United SME Guarantee Corporation, GP Capital and Morningside.


Huimin Investors

Investors in Huimin by funding rounds participated
InvestorHQRoundsRoleFirst check
GP CapitalChinaShanghai3LeadJan 2015
Western SecuritiesCanadaCalgary1ParticipantSep 2016
China Innovation InvHong KongHong Kong1LeadSep 2016
Jinan Industrial Development GroupChinaJinan1LeadSep 2019
China United SME Guarantee CorporationChinaBeijing1LeadSep 2016
China RenaissanceChinaBeijing1ParticipantSep 2019
Fortune Venture CapitalChinaShenzhen1ParticipantSep 2019
5Y CapitalChinaChina1ParticipantSep 2016
MorningsideUnited StatesBoston, MA1LeadJan 2015

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Acquisitions by Huimin

Huimin has acquired 1 company to date.

Last acquisition by Huimin was on February 9th 2017. Huimin acquired Beequick for undisclosed valuation.


Latest Acquisitions by Huimin

Beequick
Description
Beequick is a Beijing-based delivery service offering one-hour fulfillment of fresh produce and essentials from neighborhood convenience stores. It serves urban customers in China's capital through a mobile app, handling orders for groceries, snacks, and daily items. Beequick maintains partnerships with local retailers to ensure rapid dispatch from nearby outlets. The platform focuses on same-day expansion plans targeting additional major cities like Shanghai and Guangzhou.
HQ CountryChina
HQ City
Beijing
Deal Date9 Feb 2017
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Huimin Competitors

Huimin competitors include listed companies like Daiichi Co and Beijing United, and private ones like SIRCLO, Fetchr, Hugepod and Bizongo.

Public and private companies comparable to Huimin
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SIRCLOIndonesiaJakartaPrivate--$343M-
FetchrUAEDubaiPrivate--$300M-
HugepodUnited StatesNew York City, NYPrivate--$300M-
BizongoIndiaMumbaiPrivate$18M-$980M-
Daiichi CoJapanJapanPublicly listed$380M$15M$124M0.2x
Beijing UnitedChinaChinaPublicly listed$7.6B$373M$2.2B0.2x

Huimin Public Comps

Huimin is still privately-owned, but its public comps include Lily & Beauty, Dingdong (Cayman), HelloFresh, Haypp Group, ZKH Group, THG, Betterware de Mexico, Cars.com, DocMorris and Oisix.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Lily & Beauty$252M($12M)1.3x-(27.8x)-
Dingdong (Cayman)$3.6B$34M0.1x0.1x7.3x-
HelloFresh$7.8B$246M0.0x0.0x1.5x0.8x
Haypp Group$393M$19M1.2x1.0x25.0x21.7x
ZKH Group$1.3B($19M)0.2x0.2x(13.6x)33.7x
THG$2.3B$133M0.5x0.5x9.2x9.7x
Betterware de Mexico$829M$152M1.2x1.1x6.6x5.4x
Cars.com$723M$157M1.4x1.4x6.5x4.8x

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Common questions about Huimin

When was Huimin founded?Huimin was founded in 2013.
Where is Huimin headquartered?Huimin is headquartered in China.
Is Huimin publicly listed?No, Huimin is a private, VC-backed company.
What is Huimin's valuation?Huimin was last valued at $506M in its Series C in September 2019.
How much funding has Huimin raised?Huimin has raised $517M across 3 funding rounds.
What was Huimin's last funding round?Huimin's last funding round was a $225M Series C in September 2019, led by Jinan Industrial Development Group.
Who are Huimin's investors?Huimin's investors include GP Capital, Western Securities, China Innovation Inv, Jinan Industrial Development Group, China United SME Guarantee Corporation, China Renaissance, Fortune Venture Capital, 5Y Capital, Morningside, Fosun Capital and 1 other.
Which companies are comparable to Huimin?Companies comparable to Huimin include SIRCLO, Fetchr, Hugepod, Bizongo, Daiichi Co and Beijing United.
How many companies has Huimin acquired?Huimin has acquired 1 company, including Beequick.

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