China-based logistics information provider Keking has raised RMB1bn ($144m) in series C funding co-led by Ant Financial, the financial services affiliate of e-commerce group Alibaba, and private equity firm Centurium Capital, China Money Network reported today.
The round included manufacturing company Shanghai Tengyi Industrial and financial services firm Tebon Securities, as well as Sequoia Capital China, the regional subsidiary of venture capital firm Sequoia Capital.
Keking provides information to logistic companies in China through a cloud-based platform and mobile app. The company also offers solutions such as payment, supply chain management and vehicle scheduling.
Ant Financials’ mobile payment platform will be used by Keking to conduct logistics solutions and financial services as part of a strategic partnership following the round.
Keking has raised more than $187m to date. In 2016, Avic Trust led a $28m series B round that included Sequoia Capital China, Tebon Securities and China Fellow Partners.
Sequoia Capital China previously took part in the company’s $14.41m series A round in 2015.