Ant Financial targets logistics finance with Keking bet

By investing in Chinese logistics services provider Keking, Ant Financial is complimenting Alibaba's growing logistics push further upstream.

Keking has raised Rmb1 billion $144 million via a Series C round of funding led by Ant Financial and Centurium Capital, opening a new front in Alibaba's growing push into Chinese logistics.

On its WeChat account, the cloud-based Chinese logistic services provider said on Monday that it planned to cooperate with Alibaba affiliate Ant Financial to provide logistics companies and lorry drivers with data and fintech services. 

The new money raised, which includes contributions from existing investors Sequoia Capital and Tebon Securities, will be used to build a Keking public account on Alipay and provide fintech products in cooperation with Ant Financial’s online...

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