Tencent and Capital Today led a $358m Series C round for Yipin.

Existing investor Tencent, and private equity firms Capital Today, and Eastern Bell led a $358m Series C round for Yipin Shengzian, a supermarket chain operator. Proceeds of the round will be mainly used for the accelerated expansion of Yipin Fresh’s online and offline businesses, the integration of the entire industry chain, continuous investment in technology development, and the layout of national warehouse distribution system. "With the further integration of online and offline businesses, community fresh food sector will explode with greater potential. We look forward to a deeper cooperation in WeChat ecology and smart retail to provide users with better products and convenient services," Tencent.