Qudian to acquire a 28.9% stake in Secoo for c. $100m.

Qudian, an online consumer finance platform, agreed to acquire a 28.9% stake in Secoo, an online integrated upscale products and services platform, for c. $100m. “This strategic partnership leverages both companies’ resources, capabilities, industry expertise and market presence, while fostering collaboration in supply chain management, user acquisition and retention, quality appraisals, post-sales services, and financing solutions. Our partnership will bring value to both Secoo and our Wanlimu platform, launched earlier this year, and also establish a good foundation for a better user experience for our customers. We believe this strategic investment in Secoo will fuel opportunities for expansion and success on both platforms,” Min Luo, Qudian Founder, Chairman and CEO.