July 25, 2017

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 […]

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