Warburg Pincus Leads $100M Series C Round In Yunniao.Me

Beijing-based same-city courier service O2O (online-to-offline) platform Yunniao.me has received US$100 million series C financing round led by Warburg Pincus, according to Chinese media reports.

Existing investors Matrix Partners, Sequoia Capital and GSR Ventures also participated in the round.

The company says it will use the proceeds on research and development, as well as expanding its services to more cities from its current 16-city network in China.

Founded in September 2014, Yunniao.me received US$10 million series A financing from Matrix Partners, GSR Ventures and Shanda Capital in January 2015.

Last July, it received tens of millions U.S. dollars series B funding from the same investors of its series A round.

Yunniao.me provides an online platform connecting Chinese enterprises in need of same-city courier services with individuals with vans who are willing to provide such services.

The company recently announced a strategic partnership with Shanghai-based trucking dispatch mobile app maker Yunmanman, which just completed series C round of financing led by Yunfeng Capital.