Japan's Transcosmos buys 20% VC-backed Chinese logistics firm
Japan’s Transcosmos has bought a 20% stake in FineEx, a Chinese logistics provider backed by Shanghai Vstone Capital. The transaction size was not disclosed but it is believed to be over $10 million.
Transcosmos will jointly handle e-commerce fulfillment, which includes warehouse operation such as storage for e-commerce sales products, order packing and shipping, and delivery agent operations, according to a statement. It will also appoint one board member in China.
"Transcosmos has already been offering comprehensive support/service for China's e-commerce market including research & analysis, e-commerce website development and management, web promotion, customer service, order processing, etc," said Masataka Okuda, president and COO of Transcosmos. "However through this partnership, by having a group company handle fulfillment, the range of our services have been further expanded."
Shanghai Vstone Capital committed a Series A round of funding to FineEx two years ago.
The logistics firm owns delivery centers with a total working area of 44,000 square meters in Shanghai, Guangzhou, Hangzhou, and Beijing and handles a series of e-commerce logistic operations, including Taobao Tmall, JD.com and QQ.
Founded in 1966, Transcosmos provide overall IT outsourcing services such as call center services, business process outsourcing, and digital marketing.
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