Warburg Pincus leads $100m Series D funding in China’s Yunniao

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files

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.

Existing investors Matrix Partners, and GSR Ventures too participated in the round.

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.

Also Read: Tencent, Warburg lead $215m funding for China’s bike rental app Mobike

China: Warburg Pincus takes undisclosed stake in hospital chain UIB

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.