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Warburg Pincus injects $100M into Chinese e-commerce platform Yijiupi

Global private equity firm Warburg Pincus LLC has injected $100 million into Chinese business-to-business e-commerce platform Yijiupi in an extended series D round, Deal Street Asia reported, citing a company announcement.

Warburg said the funds will be used for market expansion, product and technology development and to create retail presence.

The startup was valued at about $1.1 billion after its last $200 million series D round that closed five months prior.

Yijiupi Founder, Chairman and CEO Wang Chaocheng said that data, cloud, artificial intelligence-powered financing platform and other new business segments will drive the company's further growth and profitability, the March 18 report added.