China-based supply chain finance provider Linklogis has closed a $220m series C round backed by logistics services provider GLP, consumer electronics manufacturer Skyworth and internet company Tencent, China Money Network reported yesterday.
Bertelsmann Asia Investments (BAI), a corporate venturing division of media group Bertelsmann, also participated in the round, which was led by Singaporean sovereign wealth fund GIC.
The round was filled out by state-owned investment group Citic Capital, private equity investment manager Loyal Valley Capital, investment group China Oceanwide and venture capital firm Welight Capital.
Founded in 2016, Linklogis provides supply chain financing to micro-sized and small enterprises using big data, artificial intelligence and blockchain technologies to power its risk assessment platform. It has not specified what it intends to do with the series C funding.
Linklogis previously secured $30m in series B capital from Tencent, BAI, China Merchants Venture Capital Management, Citic and Loyal Valley in August 2017.
Tencent, Loyal Valley and Citic had already provided $15m in series A funding for the company the previous year, according to China Money Network.
