Chinese Truck Hailing App Seeks To Raise $1 Billion, Taking Valuation To $10 Billion

Manbang Group, a Chinese truck-hailing platform is looking to raise US$1 billion in a new funding round, according to the Wall Street Journal. The funds raised will go towards expanding Manbang’s China business, as well as potential domestic acquisitions in industries such as autonomous trucking, according to the media report. Manbang Group was created in November 2017 by the merger of Chinese Uber-like truck logistics unicorns Yunmanman and Huochebang. The firm connects truck drivers with shippers, and also provides an after-service platform which covers …

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