Hunan Xingsheng Youxuan Electronic Commerce Co., Ltd. announced that it has received $3 billion in a round of funding led by returning investor Sequoia Capital China Fund on February 19, 2021. The transaction also included participation from returning investors, Tencent Holdings Ltd., Investment Arm and KKR & Co. Inc. (NYSE:KKR) along with Primavera Capital Group, FountainVest Partners, China Evergrande Group (SEHK:3333), DCP Investments, and Temasek Holdings (Private) Limited.

The round is raised at a post money valuation of $8 billion.