Vending

Luckin Coffee secures $250M from private investors

Image courtesy of Luckin Coffee.

April 15, 2021

Luckin Coffee Inc., which filed for bankruptcy protection in February, has entered into an investment agreement with a Centurium Capital affiliate and Joy Capital, both private investment firms in China, according to a press release.

Centurium Capital has invested approximately $240 million shares while Joy Capital has agreed to invest approximately $10 million.

Luckin Coffee, a pioneer in coffee vending and a competitor to Starbucks in China, plans to use the funds to facilitate its offshore restructuring and fulfill its obligations under its recently announced settlement with the U.S. Securities and Exchange Commission.