US-based private equity major Warburg Pincus has lead a $100 million series D funding round in intra-city B2B courier service platform Yunniao Delivery, the Chinese company said in a statement on Monday.
Warburg Pincus had also led a $100 million series C round of financing in Yunniao in January last year, which also saw participation from Sequoia Capital China, Matrix Partners China and GSR Ventures.
“This round of financing will be used for investment in science and technology and development, further strengthening the capacity and quality of service, and for future expansion. The company is expected to expand to 30 cities in 2017,” Yunniao CEO Han Yi said.
Yunniao was established in November 2014 to provide regional and city distribution business for the B2B, O2O, chain stores, distributors, brands, manufacturers, LTL network and supply chain management companies besides other customers.
At present, the firm offers services to about 3,000 clients in 13 cities including Beijing, Shanghai, Guangzhou and Shenzhen, with daily income exceeding seven million yuan.
The platform received $10 million in Series A financing from Matrix Partners China, GSR Ventures, and Shanda Capital in January 2015. In July, it received Series B financing from Sequoia Capital China, Matrix Partners China, GSR Ventures, and Shanda Capital.
Warburg Pincus is one of the world’s leading private equity firm focused on growth investments, and currently manages more than $ 44 billion in private equity assets, and investments in more than 130 companies.