J&T Express raised US$2 billion from investors including Temasek Holdings in its latest funding round, according to a private source.
The funding round comes as J&T Express moves closer to its initial public offering in Hong Kong this year, that could raise about US$1 billion.
It is added that the freshly raised funds will be used to support J&T's expansion of global delivery network and to digitise its warehouse centers and business operation.
As of now, there has not been any comments from J&T Express on this.
Existing Investors
- Hillhouse Capital
- Boyu Capital
- Sequoia Capital China
New Investors
J&T's Background
- The Indonesia-based logistics company was founded in 2015 by Jet Lee and Tony Chen.
- The name J&T, is based on the initials of the founders' names themselves.
- The courier company focuses on logistics and package delivery and uses automated sorting warehouses in Indonesia and Singapore.
- A large part of J&T's massive growth was due to the explosive rise of e-commerce in Southeast Asia especially from Shopee.
- J&T entered the China market by acquiring courier business, Best Inc. for US$1.1 billion during October 2021.
- J&T is Indonesia's 8th unicorn and was valued at US$20 billion in November 2021.
