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10
Mar
2017
China: Logistics Startup Fuyoukache Raises $36m Funding Led by Legend Capital

China: Logistics Startup Fuyoukache Raises $36m Funding Led by Legend Capital

10 Mar 2017


Chinese truck logistics startup Fuyoukache has raised $36 million (RMB250 million) in a Series C financing round led by Legend Capital, as per a China Money Network report.

The round also saw participation from Zhen Fund, Jiangxi-based AVIC Trust, a trust company established by Aviation Industry Corporation of China, as well as existing investors Eastern Bell Venture Capital and Singapore-based Global Logistic Properties Ltd.(GLP), the report added. 

Founded in 2014, Beijing-based Fuyoukache provides truck logistics services to enterprises and individuals, connecting truck drivers with those in need of logistic services via its online platform. The startup has operations spread across 31 provinces in China, and partnerships with over 30 logistics companies.

The latest round follows $9 million series A round raised by Fuyoukache from investors including Wu Yongming, a co-founder of Alibaba Group Holding Ltd in 2015, and a $15 million series B round led by China’s Eastern Bell Venture Capital, with participation from GLP in April Last year. GLP also provided $15 million in financial credit to Fuyoukache in November last year, said another report.

Source: Deal Street Asia


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