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Chinese Supply Chain Provider Xingyun Closes $200m in a Series C Round

Xingyun Group, a Shenzhen-based supply chain provider for imported goods from foreign countries, announced on Thursday that it has garnered $200 million in a Series C round of funding co-led by leading Chinese insurance player Taikang Insurance Group, healthcare-focused Highlight Capital, and Shanghai United Media Group’s joint fund Zhongyuan Capital.

The fresh round also saw participation from a group of new investors including GLP’s sub-fund Hidden Hill Capital, Morningside Venture Capital, Fivestar HoldingsXingnahe Capital, C&D Group’s investment arm C&D emerging industry investment, and Pantheon Asset. Existing backers MatrixPartners China and Shandong Shuyuan Capital also joined the round, according to a company statement.

MatrixPartners China had partnered with marquee investors like Oriental Fortune Capital, Eastern Bell Capital, and Lan Fund to collectively pour $100 million for Xingyun’s Series B+ round in August 2019. In 2018, MatrixPartners, Eastern Bell Capital, GSR United capital, and others had invested ‘tens of millions of US dollars’ in its Series B round.

Chinese new economy centered China Renaissance served as the financial advisor.

Xingyun will allocate the fundraising to spruce up its supply chain capacities and strengthen talents, it said.

Managed by Shenzhen Tianxingyun Supply Chain Company Limited, Xingyun Group employs over 500 professionals globally. The five-year-old group offers one-stop supply chain solutions covering consultancy, logistics, trading, and financial services, aimed to help enterprises improve import efficiency. In addition, it has also rolled out a cross-border e-commerce platform XY-Storehouse.

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