China-based urban delivery services provider Juma Peisong has received RMB1.5bn ($216m) in a series C round backed by logistics company Global Logistic Properties (GLP), China Money Network reported today.
Investment firm Sino-Ocean Group also participated in the series C round.
Founded in 2011, Juma Peisong operates an urban delivery service that it offers through 137 offices across 61 cities in China.
The series C funding will support the company’s expansion plans, including a recruitment drive and further product and services development. The company will also upgrade its systems, improve the utilisation of logistics data and launch new trucks.
Juma Peisong has now closed seven funding rounds over the past three years, it said in a press statement. Sino-Ocean Group reportedly supplied an undisclosed amount of series B-plus funding in February this year.
GLP has reportedly been an investor in Juma Peisong since its series A round, though further details could not be ascertained.
