Jiangsu Manyun Software Technology (Yunmanman) and Guiyang Truck Alliance Technology (Truck Alliance) announced a strategic merger to establish Manbang Group, on Nov 27 2017, with the new company headquartered in the Guiyang Economic and Technological Development Zone.
In April, 2018, Manbang Group said it had raised US$1.9 billion in its first round of financing after the merger, increasing its valuation to US$6.5 billion.
The financing injected a strong driving force for the development of the company, said Manbang Group, and has helped reinforce the company's leading position in smart logistics, enhanced user experience and expanded new markets.
Looking ahead, the company will work on new energy, driverless technology, and global expansion, in addition to building its logistics infrastructure as it strives to become the world's largest intelligent transportation platform.
Currently, the number of certified drivers on the Manbang's platform is 6.5 million, and the number of certified shippers is 1.6 million. Its logistics heavy truck coverage rate is higher than 70 percent, and its cargo delivery coverage rate is more than 50 percent. The monthly online transaction freight rate is up to three billion yuan, the accumulative turnover of oil products has reached 11.4 billion yuan, the number of ETC cards is one million, and the accumulated loan amount has risen to nine billion yuan.