In a bid to fuel the company's growth, Chinese e-commerce giant 360buy sold a $400-million stake to a Saudi Arabian company.

Kingdom Holding Co. (KHC), which is owned by billionaire Al-Waleed bin Talal, a member of the Saudi royal family, led the stake acquisition, 360buy said on February 16.

The acquisition was part of 360buy's fourth round of financing, which has raised a total of $700 million.

The other three rounds occurred in 2007, 2008 and 2011, which raised $10 million, $21 million and $1.5 billion, respectively.

The main investors in this round included KHC, the Ontario Teachers' Pension Plan in Canada and other major 360buy shareholders.

360buy's sales volume exceeded 60 billion yuan ($9.63 billion) in 2012 and is expected to top 100 billion yuan ($16 billion) this year.