Global industrial real estate and logistics giant Prologis has provided RMB100 million (US$15 million) financial credit to Chinese truck logistics start-up Fuyouhuoche, after joining a venture funding round in the truck company six month ago.
The credit will be used to provide supply chain financial services to Fuyouhuoche's upstream and downstream logistics partners, the company said.
In April, Fuyouhuoche completed a US$15 million series B round led by China's Eastern Bell Venture Capital, with participation from Prologis. The firm raised around RMB60 million from unidentified Chinese investors last year.
Founded in 2014, Beijing-based Fuyouhuoche provides truck logistics services to enterprises and individuals, connecting truck drivers with those in need of logistic services via its online platform.
The company says its m...
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