Tim Hortons China financing: Sequoia leads investment in Tencent

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Tim Hortons Coffee China (hereinafter referred to as “tims coffee”) announced today that it has completed a new round of financing, which is led by Sequoia Capital China fund, increased by Tencent and followed by Zhongding capital.
Tims coffee plans to use this round of funds for store expansion, digital infrastructure and brand building. In 2021, more than 200 new cafes are planned, including standard stores, TIMS go and theme stores. In the next few years, the plan to open 1500 cafes in China will remain unchanged.
“We are very happy to get the investment from Sequoia China and Zhongding, as well as the increase of Tencent’s shareholding. We look forward to working together in the future to tap the potential of more brands of tims coffee and promote the healthy development of China’s coffee ecosystem.” “We are full of confidence in the Chinese market and firmly believe that the rapid popularization of coffee in China will bring huge market potential,” said Lu Yongchen, chief executive of tims China. In the future, we will also speed up the layout of the Chinese market, actively plan a long-term development blueprint, bring good and inexpensive coffee products to more Chinese consumers, and provide consumers with more diversified choices of good coffee. ”
About Tim Hortons China
In 1964, legendary hockey player Tim Horton opened his first tim Hortons (TIMS) cafe in Hamilton, Ontario, Canada. Tims has more than 4900 cafes in the world. The first cafe of tims was opened in Shanghai in February 2019. At present, there are more than 150 cafes in the Chinese market. As a legendary coffee brand in North America, TIMS coffee is committed to providing Chinese customers with signature fresh coffee in a warm and modern in store environment, as well as locally developed fancy coffee, donaz and tianquqiu timbits and freshly made warm food. Welcome to visit the tims store, follow the official wechat @ tims coffee and microblog @ timhortonscoffee, and share the unique experience of tims coffee.