Deals
China’s Uber for Trucks Huochebang Said to Raise $115 Million
- Tencent-backed startup said to be valued at $1 billion
- New investor IFC said to join the latest funding round
China's Uber for Trucks Valued at $1B
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Truck Alliance Inc., an Uber-type service for trucks known in China as Huochebang, raised about $115 million in a financing round that valued the startup at $1 billion, according to two people familiar with the matter.
The two-year-old company backed by Tencent Holdings Ltd. and Hillhouse Capital secured the capital in a round led by new investors International Finance Corp. and All-Stars Investment Ltd., the people said. Tencent, Genesis Capital and DCM Ventures also participated, the people said, asking not to be named because the deal was private.