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Miguel Cordon · · 1 min readSources: J&T Express banks $2b ahead of potential US listing
“J&T Express, an upstart Southeast Asian logistics and courier service that has expanded aggressively in China, has raised more than US$2 billion to fund its fight against rival parcel delivery companies backed by Alibaba,” The Information reported, citing sources with knowledge of the matter.
Details:
- J&T’s pre-money valuation was pegged at around US$6 billion, the people added.
- Private equity firms Hillhouse Capital and Boyu Capital, as well as Sequoia Capital China participated in the fundraise.
Context:
- It was reported earlier this month that the Indonesian logistics startup is considering going public in the US through a US$1 billion IPO.
- J&T competes with other regional players such as Ninja Van, Lalamove, and SiCepat.
Editing by Collin Furtado and Jaclyn Tiu
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