Qianmi, a Chinese e-commerce system and service provider, announced 50 million yuan (around US$8) of Series A financing led by Bangsheng Capital, a venture capital affiliate of GOVTOR Capital. The funding will be used to accelerate the construction of service outlets nationwide, according to CEO of the company Shi Zhengchuan.

Launched in Oct. 2013, Qianmi is the wholly-owned subsidiary of Ofpay.com, a leading e-commerce platform for digital products in China. Qianmi is now focused on providing e-commerce services in five industries of local life, mobile, gaming, fast moving consumer goods and office supplies.

The company is principally engaged in the development and operation of two major e-commerce platforms: E-life and Yunxiao. E-life is a local life e-commerce system, offering payment solutions to various bills for mobile phone, game credits, domestic fees, credit cards, AliPay, etc. This service is going after entrepreneurs, chain stores and property management companies. Yunxiao is a comprehensive e-commerce platform providing distribution, retailing and wholesaling services to medium-and small-sized enterprises that sell physical products.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.