J&T Express Raises $2 Billion In Latest Funding From Temasek, Other Investors Ahead of Hong Kong IPO

Delivery company J&T Express raised $2 billion in a funding round late last year from Temasek Holdings, Hillhouse Capital, Boyu Capital, and Sequoia Capital China that valued the company at $20 billion, Bloomberg News reported, citing people familiar with the matter. In edition to Temasek, J&T Express managed to get several new investors, including the Chinese investment arm of Susquehanna International Group, and Hidden Hill Capital, the private equity platform in China of logistics-focused investment manager GLP. The company plans to use the funds to back the expansion of its global delivery network and cross-border businesses and to digitize its warehouse centers and business operation. J&T Express did not immediately reply to requests for comment. Founded in August 2015 by Jet Lee and Tony Chen, J&T Express is an international delivery company, with its main business in express services and cross-border logistics. The company network spans 10 countries including China, Indonesia, Vietnam, Malaysia, Thailand, the Philippines, Cambodia, Singapore, the UAE, and Saudi Arabia, and currently serves over 2 billion people according to a statement. The company recently entered the China market by acquiring courier business, Best Inc for $1.1 billion last October. MORE FOR YOU. Several unicorns in Southeast Asia are planning to have an IPO this year, such as Indonesia GoTo that has an estimated value of $30 billion.