Chinese Digital Logistics Platform Fuyoukache Receives 170 Million USD Investment
According to the official WeChat account of Fuyoukache, an online logistics service provider, $170M was raised by Matrix Partners China and Bank of China Group Investment Limited. This was the company’s second funding support in 2018. A $23M financing was offered in early January through JD Logistik, the complementary face of the online sales firm JD.com in China. These new investments will be used in technology and innovation. Fuyoukache has been offering online truck logistics services to its customers since its launch in March 2015. For now, it serves 31 provinces and more than 30 logistics companies in China. They say they receive more than 20,000 orders each week, and that transport operators have reduced their transportation costs by 10%. So far, a fund of $255M has been provided to Fuyoukache. $36M from Legend Capital, Zhen Fund, AVIC Trust, Eastern Bell Venture Capital and Global Logistic Properties Ltd. was issued at the time of series C by the companies.