Indonesian courier startup J&T Express said to have raised $2.5b ahead of HK IPO

Indonesian courier startup J&T Express has raised $2.5 billion in a funding round at a valuation of $20 billion, ahead of its plan to list in Hong Kong as soon as the first quarter of next year, three people familiar with the matter told Reuters.

J&T’s main backers — Boyu Capital, Hillhouse Capital Group, and Sequoia Capital China — and Chinese gaming and internet giant Tencent Holdings were among investors in the latest fundraising, said two of the people.

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