[ YCloset raises $50M in Series C ]

YCloset has raised $50 million in Series C funding.

Founded in 2015, YCloset  is a women’s clothing rental firm that lets users rent clothing, dresses, and accessories for free by paying a monthly subscription fee. YCloset is currently connecting its clothing rental services with Alibaba’s Sesame credit to enable users with high credit scores to rent clothing without a deposit.

The company plans to use the funds to push its market expansion plans, as well as improve its smart management to provide a better user experience.

Funding  Series C
Founded  2015
Country  China
City  Beijing, Beijing
Founder / CEO  /
Deal Size  $50M
Investors  Sequoia Capital
 ZhenFund
 IDG Capital Partners
 Alibaba
 GSR Ventures
 SB China Capital
Previous Investors  GSR Ventures
 IDG Capital Partners
 ZhenFund
 Pan-Lin Asset Management