Tencent returned to reinvest in a round valuing the e-commerce fulfilment service at $20bn as it prepares for an initial public offering next year.
Indonesia-headquartered logistics provider J&T Express has received $2.5bn in funding from investors including internet and gaming group Tencent, Reuters reported today, citing three sources.
Boyu Capital, Hillhouse Capital and Sequoia Capital China also contributed to the round while one of the sources named SIG China, a subsidiary of quantitative trading firm Susquehanna International Group, as an additional participant.
J&T operates an express delivery and warehousing business focused on the e-commerce space, which has boomed in Indonesia with the entry of…
