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Truck and Freight-matching Platform Huochebang Lands USD 56 Mln New Funding

Tencent Tech, 8/18/17

Guiyang-based operator of online and mobile logistics service platform Huochebang Technology (Truck Alliance) has completed USD 56 mln in Series B3 funding led by All-Stars Investment, with participation from multiple individual investors. Huochebang has now raised a total of USD 327 mln as part of its Series B funding.

Huochebang has partnered with multiple highway companies to become China's largest cargo truck Electronic Toll Collection (ETC) card and card top-up channel. The company's ETC business has broken RMB 90 mln in daily top-up volume, and it has issued over RMB 1.5 bln in loans. As of the end of July 2017, there were over 4.5 mln trucks and 880,000 registered users on the Huochebang platform.

Editor's Note: Huochebang, avaliable via its website and mobile app, helps match trucks with cargo in need of transport, vacant parking lots, and service centers across China to support drivers. For more information on this topic, please see "Baidu Capital Leads Funding in Trucking Platform Huochebang," MD 5/02/17 and "Truck and Freight-matching Platform Huochebang Wins USD 115 Mln Series B1," MD 12/22/16 issues.

Keywords: VC Internet funding Series B logistics All-Stars Investment 56QQ Huochebang

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