Connecting “mom-and-pop” retail stores with FMCG companies via its sophisticated supply chain online platform.
Zhongshang Huimin runs an online-to-offline platform connecting upstream FMCG companies with mom-and-pop retail stores across China.
The platform eliminates intermediate dealers between FMCG and brick-and-mortars and helps small business owners leverage the advantages of the Internet. Zhongshang Huimin is also introducing a suite of financial products and services — such as insurance packages, wealth management products, lottery services — to local communities via the member vendors.
In 2014, Zhongshang Huimin completed a Series A round funding of $87 million USD; in 2016, it received a total of $188.7 million USD in investment. It appears on many lists, such as “Top 200 Franchise in China” by iResearch Consulting Group and “Top 50 Fast-growing High-tech Enterprises in China” by Deloitte. Zhongshang Huimin reaches 550,000 vendors in 22 provinces and cities in China, and manages 50 storage-and-delivery centers, backed by a staff of 5.000 couriers. Three months into its partnership with ToJoy, the company received $11.3 million USD from 76 joint-operating partners. Zhongshang Huimin is now valued at $939 million USD.