Briefing: Same-city delivery service becomes a unicorn after $60 million Series D

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闪送完成 D1 轮 6000 万美元融资,五岳资本领投—TechNode Chinese

What happened: FlashEX, a same-city express delivery service, received $60 million for Series D1 from SIG China and Shunwei Capital.

Why it’s important: FlashEX was launched in 2014 and broke-even in 2016. The company then maintained an average annual growth rate of over 300% each year. FlashEX’s major business is 2C service which covers 222 cities in China. After several rounds of funding, it now has a total financing reserve of $150 million. This round implies a strong need for 2C delivery businesses amid increasing domestic digitalization of city services and the fast pace of urban life. Meanwhile, FlashEX’s impressive performance in the delivery sector where SF Express and other giants are dominating major 2B markets signals that more new unicorns will appear in new segments providing professional services.