The U.S. Silicon Valley Bank also provided an eight-digit dollars credit line to the company. To follow this trend, the proceeds from this round will be used to improve local services as well as to expand overseas market, said SECOO CEO Li Rixue. Different from traditional luxury e-commerce sites, SECOO is a Chinese online luxury and fashion destination with more than 300K UV per day. In order to better serve the customers, the sites also established a series of offline stores in Beijing, Shanghai, Chengdu, Hong Kong and Tokyo together with well-known luxury product retailers and brands. Founded in 2008, SECOO currently claimed over 3 million high-end customers with sales per user for online and offline stores stand at 8,000 yuan (around US$1,280) and 15,000 yuan, respectively.