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China’s Uber for trucks, Huochebang, secures USD 156 M for Series B round, & more

Online truck logistics platform Huochebang receives USD 156 M for Series B round


Founder: Dai Wenjian

Founded in: 2008

Financing status: RMB 10 billion (USD 156 million) in Series B financing in 2017

Huochebang is a Chinese online truck logistics platform. It is trying to maximize the usage of cargo trucks by matching the trucks with commodities in need of transport, vacant parking lots and online service centres. It also provides follow-up services to help its customers finish their transactions better, including helping find parking lots, selling GPS and ETC (Electronic Toll Collection) devices for highway transportation and so on.

The company primarily makes money from sale of toll cards and commissions on the card top-ups as well as helps truckers with financing.

Based in the southwestern province of Guizhou, there are more than 37 million trucks registered on its platform as well as about 370,000 commodity owners. Huochebang has so far established 1000 direct service outlets in 360 cities across China.

The platform grabbed RMB 10 billion in this Series B financing led by Baidu. The capital will be used to recruit more talent and invest in its technology to improve the user experience on its platform.

Financial services company Aicai receives USD 32 M in Series C round

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Founder: Qian Zhilong

Financing status: RMB 220 million (USD 32 million) in Series C financing in 2017

Aicai is a financial services company for undergraduates. Firstly, it launched an installment platform for students know as Aiyoumi. In order to improve its system, the company has also built a campus brand for life services. Called Chooseway, its services include delivering take-outs, helping students print content at low prices, reviewing dissertations for minor errors and so on. Aicai has also launched Y.Z capital to support student entrepreneurs in colleges with loans and guidance.

Based in Hangzhou, the company now aims to expand its user base from student groups to white-collar users. Its business covers more than 300 cities in China with more than 10 million users, and its annual sales exceeded 10 billion last year.

This Series C round financing was led by Zhongshunyi financial. Aicai plans to use the fund to introduce big data technology to its products for improving its efficiency on risk management and loan audit.

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