(MENAFN) The firm declared on Tuesday, that Manbang Group, China’s most important local cargo service company, augmented USD1.7 billion in its newest round of fundraising.
The fundraising cycle was led by Softbank Vision Fund, Sequoia, Permira and Fidelity, with the contribution of numerous other sponsors such as Baillie Gifford and Tencent, the firm declared.
The cargo service giant aims to utilize the funds for technological, service and model innovation.
Zhang Hui, CEO of Manbang Group, stated that the firm will carry on building a dependable and inclusive cargo service platform to endorse the high-quality growth of the transport sector.
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