China's largest fresh fruit shopping site, Fruitday.com, has completed a new round of financing led by ClearVue Partners, a private equity fund targeting fast growing and promising Chinese consumer companies.
SIG Asia Investments also participated in this round of financing.
"We met many PE firms and ClearVue was different. They were strategic, professional and had a deep understanding of our business and the consumer market in China — we are thrilled to receive investment from ClearVue Partners," says Wang Wei, founder and CEO of Fruitday.com. "We believe that there is strong and increasing consumer demand in China for the freshest, high-quality fruits from around the world."
In China, total consumption of fresh fruit in the urban markets is estimated to have been over RMB400bn in 2013, with an annual growth rate of about 15 percent.
"We believe that online shopping for fresh fruit in China is a new and fast-growing consumer trend," says Harry Hui, managing partner of ClearVue Partners. "With access to the highest quality domestic and imported fruits from around the world, Fruitday.com has changed the way Chinese consumers buy fresh fruit, changed the operating model of the domestic China fruit and fresh food sector, and has helped to improve industry standards overall."
