Chinese group buy site FTuan has confirmed, by way of its CEO, Lin Ning, that it has secured US$60 million in third-round funding. With 2,000 employees, Mr Lin states that FTuan has the cash to be sustainable for two or three years. Plus, the company has one more round of financing in the pipeline.
It has also been revealed that FTuan is powering the new Kaixin Tuan deals site that we looked at recently. It’s a partnership that sees FTuan effectively operating the Kaixin Tuan platform (pictured below), as well as being one of the many other group buy sites to coordinate some deals with Kaixin.