China-based e-commerce logistics service provider FineEx has received RMB200m ($31.7m) in funding from diversified conglomerate Transfar and private equity firm Addor Capital, China Money Network reported today.
Founded in Shanghai in 2008, FineEx provides a fulfilment service for online retailers that includes product storage and warehousing, inventory management, packaging, labelling, order processing, shipping and return processing.
FineEx currently operates 12 warehouses and serves more than 200 customers, according to information on its website.
Japan-based IT and digital outsourcing services provider Transcosmos paid an undisclosed amount for a 20% stake in FineEx in 2013, signing a strategic partnership agreement with the company at the same time.