China-based luxury resale platform Plum has secured $100 million in a Series C round, according to reports. The investment comes from ZhuanZhuan Group, a general marketplace borne out of 58.Com, the largest horizontal in China.

The strategic investment, following which Plum will sell its used fashion items on ZhuanZhuan’s marketplace, will help the group process more brands and goods, according to Zhuanzhuan Group CEO Huang Wei.

“We will fully leverage our pricing technology that the firm has accumulated, as well as our order fulfilment capacity to enable the fashion industry to be more sustainable and green,” said Wei, quoted by Deal Street Asia.

Founded in 2017, Beijing-based Plum has both c-to-b-to-c and b-to-b-to c operations.

In August 2019, the startup raised $20 million in its Series B round from venture capital groups including Matrix Partners China and Qiming Ventures.

Founded in 2015, ZhuanZhuan has received backing from strategic investors including Tencent, 58.com, and Qingyue Fund.

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