Poshmark Plans To Expand Electricity Business $25 Million, Venture Capital To Boost Take-Off

The rapid development of e-commerce platform has brought many opportunities to the electricity supplier industry.

Recently, the Poshmark of e-commerce platform has won the venture capital once again, which proves that the current electricity supplier potential is still growing enormously.

It is reported that the e-commerce platform Poshmark obtained venture capital from the private equity fund GGV Capital worth 25 million US dollars, will be used as a short-term bond, the financing will be expanded as the company.

Liquidity.

And this financing will bring more than 70 million of the company's total.

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At the same time, GGV will also invest in Poshmark as a shareholder.

The company was founded in 2011.

Mainly for women to provide second-hand fashion products trading, and now will add new fashion products sales business.

The platform now has more than a million users, as well as up to 1 million 500 thousand of the second-hand sales.

The rapid development of the electricity supplier has also brought the potential development of Poshmark's fashion retailing business. In addition, the second-hand fashion market is also rising. Therefore, the main selling business of the company has also been showing strong growth momentum.

"I am very pleased to be able to join the company and provide them with financial help to make the brand develop better."

GGV Capital joint partner Hans Tung said so.