Initially, Jitu Express plans to go public in the United States and raise approximately US$1 billion. However, it was reported at the end of August this year that Jitu Express had adjusted its listing plan and planned to go to Hong Kong for an IPO next year.
Two of the people familiar with the matter said that in the latest round of financing, the main supporters of Gitu Express, Boyu Capital, Hillhouse Capital and Sequoia Capital China, and Tencent Holdings Participated in investment.
One of the people familiar with the matter said that this round of financing also attracted new investors including SIG China. SIG China is the China investment arm of Susquehanna International Group.
Jitu Express’s financing comes at a time when the company is seeking to expand in China and Latin America. Headquartered in Jakarta, Jitu Express is a technologically innovative Internet express logistics company founded in 2015 by entrepreneurs Jet Lee and Tony Chen.
According to the company’s website, Gitu Express’s business has expanded to countries such as Malaysia, Vietnam, Indonesia, Thailand, Singapore, Cambodia, and China. Currently, Jitu Express has more than 350,000 employees.
In April of this year, Jitu Express had raised US$1.8 billion, led by Boyu Investment, followed by Sequoia Capital and Hillhouse Capital. After financing, it was valued at US$7.8 billion.