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- KK Group
KK Group Revenue, Valuation, Funding & Investors
KK Group is valued at $3B as of July 2021, a 12.3x multiple on its last reported $244M revenue.
Last KK Group valuation
$3B
Series F · Jul 2021
Last KK Group funding round
$300M
Series F · Jul 2021
KK Group revenue
$244M
Series F · Jul 2021
Key investors in KK Group
Matrix Partners China
CMC Capital Group
eWTP Technology & Innovation Fund
Heizao Capital
Shenzhen Capital Group
JD.com
About KK Group
KK Group is a Chinese online-to-offline marketplace for imported consumer goods. Shanghai-based, the platform connects mobile shoppers to physical stores in Europe and the US for duty-free purchases of luxury bags, cosmetics, and electronics. Launched in 2015, it fulfills orders via global logistics partners and serves 5 million users through its app.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Revenue
$244M (Jul 2021)
Valuation
$3B (Jul 2021)
KK Group Valuation
KK Group is currently valued at $3B, based on its Series F in July 2021.
The $300M round was led by JD.com, with participation from Hongtai Fund, Harvest Fund Management, New Horizon Capital, CMC Capital Group and CITIC Securities.
KK Group's valuation has grown 3.0x from $1B at its Series C in March 2019 to $3B in July 2021, across 3 priced rounds.
KK Group valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2021 | Series F | $3B | 12.3x |
| Oct 2019 | Series D | $1B | - |
| Mar 2019 | Series C | $1B | - |
KK Group Revenue
KK Group's latest recorded revenue is $244M, as of its Series F in July 2021. At a $3B valuation, that implies a 12.3x revenue multiple.
KK Group revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2021 | $244M | $3B | 12.3x | Series F |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
KK Group Funding History
KK Group has raised a total of $613M across 5 funding rounds.
KK Group's first fundraising round was a $11M Series B in April 2018. The most recent completed round was a $300M Series F in July 2021.
KK Group funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2021 | Series F | JD.com (lead); Hongtai Fund; Harvest Fund Management; New Horizon Capital; CMC Capital Group; CITIC Securities | $300M | $3B | KK Group, a Chinese new retail company formerly known as KKguan, operates cross-border e-commerce and offline retail chains targeting Gen Z consumers with mass market consumer goods including snacks, fashion, lifestyle products, beauty, skincare, daily necessities, and trendy toys. Brands include KK Pavilion, KKV (over 300 stores), The Colorist (over 300 stores), X11 trendy toy stores, and others, with warehouses in Australia, Japan, South Korea, UK, US, and franchise stores in over 100 Chinese cities. Headquartered in Dongguan, Guangzhou province, it blends online and offline retail, partnering with JD.com's Dada Nexus for logistics and one-hour delivery to stores. In July 2021, KK Group raised approximately $300 million in a Series F round led by JD.com, with participation from CITIC Securities, CMC Capital Group, Harvest Fund Management, Hongtai Fund, New Horizon Capital (also called Ince Capital or Xintianyu Capital in sources). The post-money valuation reached $3 billion USD (about 21 billion CNY), following prior rounds: Series E $142M in July 2020 led by CMC Capital, Series D $100M in late 2019 led by Alibaba's EWTP at over $1B valuation. Total funding across seven rounds exceeded $614M, attracting investors like Matrix Partners China, Shenzhen Venture Capital, Jingwei China, Black Ant Capital. Financials from company prospectus show rapid revenue growth: RMB 155M (2018), 463M (2019), 1.646B (2020), 1.683B (H1 2021), with CAGR 225.5% from 2018-2020, near the round timing. The company reported net losses—RMB 79.5M (2018), 515M (2019), 2.017B (2020), 4.397B (H1 2021)—largely from fair value changes on preferred shares; adjusted net losses narrowed to 42M, 77M, 171M, 38M respectively, due to investments in brand portfolio and store expansion (690 stores by Q1 2023, 707 in 2022). JD.com's investment supports supply chain, logistics, distribution, and branding collaboration. Post-round, KK Group faced revenue growth slowdown in 2021-2022 but achieved profitability in 2022 (cumulative prior losses ~7.5B CNY), with Q1 2023 revenue of RMB 1.446B and net profit 776.54M CNY, signaling recovery amid store optimizations. |
| Jul 2020 | Series E | CMC Capital Group (lead); Hongtai Capital Holdings; BA Capital; INCE Capital | $143M | - | KK Group is a Chinese trendy retail e-commerce platform that operates multiple retail brands and manages a marketplace model. The company achieved $99 million and $341 million in GMV in 2019 and 2020 respectively, with compound annual GMV growth of 246.2% from 2018 to 2020, positioning it as the third-largest trendy retail participant in China by 2020. Revenue sales reached $70 million and $249 million in 2019 and 2020 respectively, though the company experienced significant net losses of $78 million and $305 million in those same years. KK Group raised $614.44 million across multiple funding rounds, with a Series F for $300 million in July 2021 led by investors including JD.com and CITIC Securities. The company's major brand portfolio included THE COLORIST, which generated $3 million, $67 million, and $70 million in sales revenue from 2019 to H1 2021, covering over 5,500 SKUs across skincare, makeup, and other beauty categories sourced from Chinese and international brands. |
| Oct 2019 | Series D | eWTP Technology & Innovation Fund (lead); Matrix Partners China; Heizao Capital; N5Capital | $100M | $1B | KK Group is a China-based cross-border e-commerce platform and marketplace operator. In late 2019, specifically around October, it raised $100 million in a Series D funding round led by eWTP Technology & Innovation Fund (Alibaba's Electronic World Trade Platform), with participation from Heizao Capital and Matrix Partners China, at a post-money valuation exceeding $1 billion USD. The company had previously secured funding and continued with larger rounds afterward, including a $142 million Series E in July 2020 led by CMC Capital and a $300 million Series F in July 2021 led by JD.com at a $3 billion valuation. KK Group's business focuses on cross-border e-commerce, including retail brand portfolios and physical store expansion. The company reported rapid GMV compound annual growth of 246.2% through 2020, reaching $341 million, alongside expanding net losses due to investments in stores and brands, with adjusted net losses improving over time. Subsequent traction included brands like THE COLORIST achieving $67 million in sales revenue in 2019 and $70 million in H1 2021 across skincare, makeup, and other categories from Chinese and overseas brands. By 2021, total funding reached over $614 million across eight rounds from 15 investors. KK Group aimed for profitability through revenue growth, store optimization, and cost efficiencies amid competitive e-commerce dynamics. |
| Mar 2019 | Series C | eWTP Technology & Innovation Fund (lead); Matrix Partners China; Heizao Capital; Angel Plus; Bright Venture Capital; Shenzhen Capital Group | $60M | $1B | KK Group is a China-based cross-border e-commerce platform and marketplace. In late 2019, specifically around October 23, 2019, it raised in a Series D round led by Alibaba's eWTP Technology & Innovation Fund, with participation from Heizao Capital and Matrix Partners China, at a valuation of $1 billion or exceeding $1bn. In July 2021, KK Group raised a Series F round of $300 million led by JD.com, valuing the company at $3 billion, with investors including CITIC Securities, CMC Capital Partners, Harvest Fund Management, Hongtai Capital Holdings, INCE Capital, and New Horizon Capital. Overall, KK Group has raised approximately $614.44 million across 7-8 rounds from 15 investors. The company has seen progressive funding growth, indicating strong market interest in its e-commerce positioning amid China's cross-border trade expansion. |
| Apr 2018 | Series B | Matrix Partners China (lead) | $11M | - | KK Group raised $11 million in a Series B round on April 9, 2018, led by Matrix Partners China. The company, founded in 2015 and based in Dongguan, China, operates as a cross-border e-commerce platform selling snacks, fashion, and lifestyle goods, with warehouses in countries including Australia, Japan, South Korea, the UK, and the United States, and franchise stores across China. |
Who has invested in KK Group?
16 investors have backed KK Group across its funding rounds, including Matrix Partners China, CMC Capital Group, eWTP Technology & Innovation Fund, Heizao Capital, Shenzhen Capital Group and JD.com.
Lead investors include JD.com, CMC Capital Group, eWTP Technology & Innovation Fund and Matrix Partners China.
KK Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Apr 2018 | ||
| 2 | Participant | Mar 2019 | ||
| 2 | Lead | Mar 2019 | ||
| 2 | Lead | Jul 2020 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Mar 2019 | ||
| 1 | Participant | Mar 2019 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Mar 2019 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Oct 2019 | ||
This data is available for Pro users. Sign up to see all 16 KK Group investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by KK Group
KK Group has invested in 1 company to date.
Latest investment by KK Group was on May 11th 2026. KK Group invested in Chengdu RainZhiLingdong Technology in their Seed round.
Latest Investments by KK Group
| Description | Chengdu RainZhiLingdong Technology is a robotics company producing an AI-powered bionic plush pet toy. |
| HQ Country | |
| HQ City | Chengdu |
| Deal Date | 11 May 2026 |
| Round | Seed |
| Raised | undisclosed |
| Investors | 4399 Network; iFlytek |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all KK Group investments and their VC round multiples. Start Free Trial | |
KK Group Competitors
KK Group competitors include listed companies like People and Mercari, and private ones like Whop, Paytm Mall, Flutterwave and Uzum.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $142M | - | $1.6B | 11.3x | ||
| Private | $104M | - | $3B | 28.8x | ||
| Publicly listed | $2.4B | $122M | $2.8B | 1.6x | ||
| Private | $95M | - | $3.3B | - | ||
| Private | $691M | - | $2.4B | 3.5x | ||
| Publicly listed | $1.5B | $282M | $3.9B | 2.4x |
KK Group Public Comps
KK Group is still privately-owned, but its public comps include Goto Gojek Tokopedia, Seek, People, SMG Swiss Marketplace Group, Urban Company, Inchcape, Visional, Mercari, Travel+Leisure and TX Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1B | ($16M) | 2.0x | 1.7x | (125.5x) | 13.1x | |||
| $914M | ($63M) | 4.2x | 4.5x | (61.7x) | 10.2x | |||
| $2.4B | $122M | 1.3x | 1.6x | 25.4x | 11.3x | |||
| $404M | $175M | 8.4x | 7.7x | 19.5x | 13.9x | |||
| $162M | ($26M) | 14.4x | 12.3x | (90.6x) | (72.0x) | |||
| $12B | $867M | 0.4x | 0.4x | 5.4x | 5.0x | |||
| $515M | $157M | 3.3x | 2.6x | 10.8x | 9.3x | |||
| $1.5B | $282M | 2.4x | 2.4x | 12.7x | 11.7x | |||
This data is available for Pro users. Sign up to see all KK Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about KK Group
| When was KK Group founded? | KK Group was founded in 2014. |
| Where is KK Group headquartered? | KK Group is headquartered in Dongguan, China. |
| Is KK Group publicly listed? | No, KK Group is a private, VC-backed company. |
| What is KK Group's valuation? | KK Group was last valued at $3B in its Series F in July 2021. |
| How much funding has KK Group raised? | KK Group has raised $613M across 5 funding rounds. |
| What was KK Group's last funding round? | KK Group's last funding round was a $300M Series F in July 2021, led by JD.com. |
| Who are KK Group's investors? | KK Group's investors include Matrix Partners China, Heizao Capital, eWTP Technology & Innovation Fund, CMC Capital Group, Hongtai Capital Holdings, JD.com, Hongtai Fund, Angel Plus, Bright Venture Capital, Harvest Fund Management and 6 others. |
| What is KK Group's revenue? | KK Group's latest recorded revenue is $244M (July 2021). |
| What is KK Group's revenue multiple? | KK Group's latest valuation implies a 12.3x revenue multiple ($3B valuation on $244M of revenue). |
| Which companies are comparable to KK Group? | Companies comparable to KK Group include Whop, Paytm Mall, People, Flutterwave, Uzum and Mercari. |
| How many companies has KK Group invested in? | KK Group has invested in 1 company, including Chengdu RainZhiLingdong Technology. |
| What was KK Group's last investment? | In May 2026, KK Group invested in Chengdu RainZhiLingdong Technology's seed round alongside 4399 Network and iFlytek. |
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