This Uber for local deliveries in China just secured US$15 million from Tencent

Renren Kuaidi, a crowdsourced delivery system with no relation to the struggling social network of a similar name, announced today it secured a US$15 million series A round of funding from Tencent and Banyan Fund, according to QQ Tech.

Renren Kuaidi, which literally translates to “Everyone Express,” let’s anyone who meets the eligibility requirements sign up to be a courier. Those requirements include real-name authentication, binding a bank card, a smartphone with a phone number, and a photo. Couriers can choose to deliver packages by bike, scooter, car, bus, or even on foot.

The startup specializes in delivery for boutique stores and local lifestyle products like flowers, cake, coffee, gifts, and food. It’s not about to turn China’s logistics industry on its head, but it could make a valuable impact on last-mile and local delivery. It could be especially useful during times of peak demand for local couriers that need to temporarily bolster their staff, like during the upcoming Novemer 11 Single’s Day shopping event.

Using a similar model to Uber, Renren Kuaidi doesn’t own its own fleet of staff and vehicles. Couriers sign up to use the mobile app, and Renren takes a cut of their pay per delivery. Customers can book the nearest courier on demand. After the delivery is made, the customer can rate the courier on his or her performance.

Founded in 2011, the startup now operates in Beijing, Shanghai, Shenzhen, Suzhou, Hangzhou, and Chengdu. This latest round of funding will go toward hiring new personnel and paying for operating expenses.

See: Startup makes it easy to hire a nearby housekeeper, secures funding from Tencent and Shanda

(Source: QQ Tech)