The rumor has been confirmed! Luckin Coffee completes the round B financing with a valuation of $2.2 billion!

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On December 12th Luckin Coffee (luckin coffee) announced the completion of round B financing of $200m, with a post-investment valuation of $2.2 billion. Pleasure Capital, Dawei Capital, GIC (GIC), China International Capital Corporation and others participated in this financing. After the completion of financing, pleasure Capital founder and managing partner Liu Erhai joined the company's board of directors.

Luckin Coffee, headquartered in Xiamen, was put into trial operation in January 2018. by the end of November 2018, it had completed the layout of more than 1700 stores in 21 major cities such as Beijing, Shanghai and Shenzhen, and achieved 100% coverage within 500m in the urban core area of Beijing and Shanghai. customers can reach it within 5 minutes' walk. In December 2018, Luckin Coffee's coffee beans won the gold medal at the 2018 IIAC International Coffee tasting Competition in Milan, Italy.

Qian Zhiya, founder and CEO of Luckin Coffee, said: "Luckin Coffee always adheres to the principle of product and customer first. We will continue to increase capital investment in product research and development, scientific and technological innovation and business development, and constantly optimize the product and user experience."

On July 11, 2018, Luckin Coffee announced the completion of round A financing of US $200 million, with a post-investment valuation of US $1 billion, making it the fastest-growing unicorn in China. According to industry insiders, Luckin Coffee received another 200 million US dollars in financing five months after the completion of round A financing and doubled his pre-investment valuation, reflecting the high recognition of his business model, entrepreneurial team and future prospects by the capital market. especially in the context of the current capital tightening more landmark significance.

Qian Zhiya, founder and CEO of Luckin Coffee, said: "Luckin Coffee always adheres to the principle of product and customer first. We will continue to increase capital investment in product research and development, scientific and technological innovation and business development, and constantly optimize the product and user experience."

It is worth mentioning that this financing is another round of financing after a lapse of five months. On July 11, 2018, Luckin Coffee announced the completion of round A financing of US $200 million, with a post-investment valuation of US $1 billion, making it the fastest-growing unicorn in China. At present, after the completion of round B financing, the valuation of Lucky has doubled.

The news also confirmed the financing rumors about Luckin Coffee in early November. Earlier, according to Reuters, Luckin Coffee was seeking a new round of financing at a valuation of 15-2 billion US dollars.

In addition, Luckin Coffee recently raised the threshold for free distribution in some cities, such as Beijing and Shanghai, from 35 yuan to 55 yuan. However, it is said that other entry cities still maintain the original distribution standards.

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