(Yicai) Aug. 26 -- EasyYa, a Chinese cross-border e-commerce company that specializes in connecting factories and overseas buyers, has secured CNY150 million (USD21 million) in its latest financing round led by CICC Capital Management-backed Zhongjin Tianmu Lansheng Fund.

The proceeds will be used to expand EasyYa’s global footprint, optimize its EasyYa Youdan factory intelligent connection Software as a Service system, that uses front-end consumer data to give feedback to factories regarding production and product upgrades, expand selection tools for platforms such as TikTok and diversify its sales channels, the Guangzhou-based firm said.

Other participants included GSR United Capital, Guangzhou Tianhe Investment Fund Management, Genesis Partners and other institutions, it said.

EasyYa, which was founded in 2020, has previously received investments from Guangzhou Yuexiu Industrial Fund Management, Shenzhen Capital Group, and Greater Bay Area Homeland, among other investors.

EasyYa invented the concept of the ‘virtual factory’ and set up a Business-to-Business online mall called EasyYa Mall that sources directly from factories and also supplies tailored products to overseas vendors. It also runs a platform called EasyYa Selection which helps cross-border sellers analyze data from e-retailers such as Amazon.

Under the factory direct supply model, EasyYa can provide factories with data, software, business opportunities and direct orders. At present, EasyYa has more than 4,000 factories that it has inspected. Last year, the gross merchandise volume of its self-operated products on the e-mall topped CNY1 billion (USD140.4 million).

Almost half of the top 10,000 merchants on Amazon's US site are Chinese, according to data from e-commerce research company Marketplace Pulse. Ecomcrew, another market research firm, puts the figure at 63 percent.

​Editor: Kim Taylor