City express delivery services provider UUpaotui receives USD 14.5 million for Series A+
Founder: Qiao Songtao
Founded in: 2015
Financing status: RMB 100 million (USD 14.5 million) Series A round in 2017
City express delivery services provider UUpaotui on Saturday receives USD 14.5 million for its Series A+ financing round to expand its delivery services to more than 200 cities in China.
UUpaotui is a city express delivery services provider that provides customers with efficient, fast and environmentally friendly delivery services based on its app.
Currently, customers living anywhere in the city can place delivery order requests on its app. The system will assign orders to its couriers nearby based on the GPS (Global Position System), and the couriers can choose to accept the orders or not. Once the orders are accepted, the entire delivery process will be completed by a single courier. According to the data released on its website, an average delivery job can be completed in 60 minutes within a distance of 5 kilometers.
In addition, UUpaotui provides some additional services related to its city express delivery services such as helping customers purchase something and then deliver it to a designated location, and queuing up to purchase the products for customers and then complete the delivery.
Launched in 2015 in Zhengzhou, its city express delivery services cover 72 cities in China with more than RMB 40 million of monthly revenue. It has so far attracted over 360,000 couriers, and some couriers work for UUpaotui either full time or part time – the same way drivers work for DiDi.
This Series A+ financing round was from a group of investors including QF Capital and Timing Capital. The capital will be used to expand its delivery services to new cities, and it aims to cover more than 200 cities in China by the end of 2017.
Used car trading platform Maimaiche receives USD 29.4 million for Series A
Founder: Jiang Qitao
Financing status: RMB 200 million (USD 29.4 million) Series A round in 2017
Used car trading platform Maimaiche on Saturday receives USD 29.4 million for its Series A financing round to optimize the user’s trading experience.
Maimaiche is a used car trading platform that contributes to make the used car trading process more transparent. Its uses an upgraded used car trading mode called Source to Retail (S2R), which sells used cars to retailers that offer a more competitive price, just like an auction.
It provides customers with door-to-door services for the evaluation of used cars, and helps them complete the trading transaction on its platform. Then, it integrates the resources between its platform and retailers to promote the circulation of used cars throughout the country by organizing online auctions.
Currently, it has partnerships with more than 3,000 used car retailers in China with a sales volume exceeding 1,000 every month. It also has physical used car retail shops in China.
This Series A financing round was from Boyuan Capital. The company plans to use the fund to optimize the user’s trading experience on its platform by introducing big data technology, as well as recruit more employees for its physical retail stores.
(Top photo from 58pic.com)