What is FunMart? FunMart Review

Founder Introduction

Peng Zaixin, founder and chairman of FunMart, founder of Kunshan Yishangpin Company, and serial entrepreneur.

Li Binbin, co-founder of Hangzhou Fengmang Yishang Network and Haixianhui. Li Binbin is from Yongjia, Wenzhou. He has been traveling around the country with his father, who is a businessman. In 1998, when he was still in junior high school, Li Binbin decided to give up his studies and started selling Wenzhou leather shoes in Qingdao. In May 2015, he founded Haixianhui.

introduce

FunMart was jointly funded by two well-known cross-border e-commerce companies, and the initial team was also composed of elites from these two companies. FunMart is headquartered in Hangzhou and has branches in Yiwu and Foshan.

Main categories

FunMart mainly focuses on clothing, shoes, jewelry, bags, watches and related accessories, cosmetics, maternal and child products, electronic products and various cultural and artistic items.

Delivery time

In terms of delivery time, the preparation time from order confirmation to delivery is 1-4 days, and the delivery time is 5-8 days. Free shipping is available for purchases of USD 49 or above, which is obviously lower than other Saudi e-commerce companies. It can be seen that it avoids competition from mature e-commerce companies such as Jollychic in terms of positioning, and targets a customer group with lower average order value.

Financing

On July 20, 2017, FunMart received 20 million in personal angel round financing.

In August 2017, it received tens of millions of RMB in Series A funding from IDG Capital.

In July 2018, it received RMB 30 million in A+ round financing from Zhongding Venture Capital, but there was almost no media coverage of the news.

Settlement process

1. Apply for settlement and sign the online agreement

2. Submit enterprise information and enterprise qualification information

3. Submit business qualification information

4. Wait for review and entry