Baba Super, a mobile app that provides a platform for independent truck drivers and their clients, received RMB 30 million (USD 4.5 million) from Shenzhen-based The Launcher Corporation in a Series Pre-A financing round on Wednesday.
The Launcher Corporation previously had backed Baba super in the company’s angel round of investment in May this year, although The Launcher Corporation has not disclosed the exact amount of money that it put in.
Baba Super will use the new capital to further scale up business operations, with a goal of growing to five million users by the end of 2016.
The founder of the platform, Rao Xiaobo, said their app witnesses around 100 online transactions daily, and that its monthly transaction volume achieves RMB15 million (USD 2.2 million).
Founded in 2014 and launched in 2015, Shenzhen-based Baba Super serves as a free platform for truck drivers and the owners of the goods being transported.
Most Chinese truck drivers are self-employed individuals. This platform aims to help bridge the information gap for drivers and their potential clients. The app uses big data and LBS location services to provide drivers with information for goods to be delivered. Goods owners obtain truck information from the app.
(Top photo from Baidu Images)