Huochebang Valuation, Funding & Investors
Huochebang is valued at $1B as of May 2017.
Last Huochebang valuation
$1B
Series B · May 2017
Last Huochebang funding round
$56M
Series B · Aug 2017
Cumulative funding Huochebang raised
$327M
across 3 funding rounds
Key investors in Huochebang
All-Stars Investment
Tencent
DCM Ventures
International Finance Corporation
IFC Venture Capital Group
Baidu Capital
About Huochebang
Huochebang is a Guiyang-headquartered online freight platform, now operating as Full Truck Alliance listed on the New York Stock Exchange. The company connects millions of truck drivers with shippers through its O2O marketplace, providing load matching, payment processing, and logistics tracking services across China. Founded in 2013, it dominates the domestic digital trucking sector with nationwide coverage.
Founded
2008
HQ
GuizhouWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Commission, Subscription
Valuation
$1B (May 2017)
Huochebang Valuation
Huochebang is currently valued at $1B, based on its Series B in May 2017.
The $156M round was led by All-Stars Investment and Baidu Capital, with participation from Tencent, IFC Venture Capital Group and DCM Ventures.
Huochebang's valuation has moved from $1B at its Series B in December 2016 to $1B in May 2017, across 2 priced rounds.
Huochebang valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2017 | Series B | $1B |
| Dec 2016 | Series B | $1B |
Huochebang Funding History
Huochebang has raised a total of $327M across 3 funding rounds.
Huochebang's first fundraising round was a $115M Series B in December 2016. The most recent completed round was a $56M Series B in August 2017.
Huochebang funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2017 | Series B | All-Stars Investment (lead) | $56M | - | Huochebang (also known as Truck Alliance), a Guiyang-based online truck and freight-matching platform, completed a $56 million Series B3 funding round on August 18, 2017, led by All-Stars Investment with participation from multiple individual investors. This brought the total Series B funding to $327 million across B1 ($115M led by All-Stars in Dec 2016), B2 ($156M led by Baidu Capital in May 2017), and B3. The platform connects trucks with cargo, parking, and services, partnering with highway companies to become China's largest cargo truck Electronic Toll Collection (ETC) channel. At the end of July 2017, Huochebang had over 4.5 million trucks and 880,000 registered users on its platform. Its ETC business achieved RMB 90 million in daily top-up volume, and it had issued over RMB 1.5 billion in loans. Unlike pure matching fees, Huochebang generates revenue primarily from toll card top-ups and financing services for truckers. The funds supported expansion of truck services, user growth, technology, talent, and electronic toll services. Huochebang competed with Yunmanman in China's fragmented trucking sector, where over 75% of cargo moves by independent contractors. Huochebang merged with rival Yunmanman in 2017 to form Full Truck Alliance, which later raised significant late-stage funding (e.g., $1.9B in 2018 at $6.5B valuation, $1.7B in 2020 near $12B) and pursued a $1.5B IPO filing. Investors across rounds included Tencent, Hillhouse, Baidu Capital, Sequoia China, Lightspeed, and All-Stars. |
| May 2017 | Series B | All-Stars Investment (lead); Baidu Capital (lead); Tencent; IFC Venture Capital Group; DCM Ventures | $156M | $1B | Huochebang is a mobile platform launched in 2014 that connects truck drivers with freight shipments, improving logistics efficiency in China. The app matches shippers with transporters, handling approximately 20 million tonnes of goods daily as of 2016. Rather than taking commissions on shipments, the company generates revenue through auxiliary services including toll card sales, card top-ups, and truck financing. By October 2016, the platform had registered 4.5 million trucks and 880,000 cargo owners. Huochebang raised $150 million across four funding rounds by early 2017, with investors including All-Stars Investment, DCM Ventures, Genesis Capital, Hillhouse Capital Group, IFC Venture Capital Group, Tencent Holdings, and Zhongding Power. The company achieved a $1 billion valuation in December 2016 following a $115 million Series B funding round led by All-Stars Investment. As a privately held company, Huochebang does not publicly disclose financial metrics such as revenue or profitability data. The platform was expanding internationally, with plans to enter Southeast Asian markets and establish an R&D center in the United States for new energy vehicle development. |
| Dec 2016 | Series B | All-Stars Investment (lead); International Finance Corporation (lead); Tencent; DCM Ventures | $115M | $1B | Huochebang, also known as Truck Alliance or Guiyang Huochebang Technology Co Ltd, is a Chinese online platform founded in 2008 by Wenjian Dai and headquartered in Guiyang, Guizhou province. It operates as the 'Uber of trucks,' connecting cargo shippers with individual truck drivers to improve logistics efficiency by matching trucks with spare capacity, reducing empty miles, and lowering costs. The platform also offers supplementary services like parking identification, toll cards, and financing for drivers, serving a market where over 90% of China's trucks are individually owned. In December 2016, Huochebang raised $115 million in a Series B-1 round led by All-Stars Investment and International Finance Corporation (IFC), with participation from existing investors including DCM Ventures, Tencent Holdings, and others. This round valued the company at $1 billion, marking it as a unicorn and the largest funding for an online long-haul logistics platform at the time. The funds were intended to enhance the platform's matching algorithms, expand truck service businesses, and increase adoption of electronic toll collection cards. At the time of the round, Huochebang had strong traction with 2.3 million truckers, 350,000 shippers, and 1,000 offline service centers across over 360 cities. The company had previously raised $35 million earlier in 2016 from Genesis Capital and a total of $150 million across four rounds from investors like Hillhouse Capital and Zhongding Power. Huochebang targeted China's massive $1.6 trillion logistics industry in 2016, driven by manufacturing growth, aiming to integrate mobile internet with trucking for better efficiency and environmental benefits. Investors like Tencent and IFC highlighted its potential to build trust between drivers and shippers while reducing wait times and empty runs. Later developments included a 2021 acquisition of its equity by Guizhou FTA, a subsidiary of FTA Information, for a nominal amount. |
Who has invested in Huochebang?
6 investors have backed Huochebang across its funding rounds, including All-Stars Investment, Tencent, DCM Ventures, International Finance Corporation, IFC Venture Capital Group and Baidu Capital.
Lead investors include All-Stars Investment, Baidu Capital and International Finance Corporation.
Huochebang Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Hong Kong | 3 | Lead | Dec 2016 | |
| Shenzhen | 2 | Participant | Dec 2016 | |
 San Francisco, CA | 2 | Participant | Dec 2016 | |
| China | 1 | Lead | May 2017 | |
This data is available for Pro users. Sign up to see all 6 Huochebang investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by Huochebang
Huochebang has invested in 3 companies to date.
Latest investment by Huochebang was on August 25th 2017. Huochebang invested in 51zhaoyou.com in their $32M Series B round.
Latest Investments by Huochebang
| Description | 51zhaoyou.com is a B2B e-commerce platform for China's petroleum sector, offering fuel trading, logistics, and financial services to major logistics companies and industry participants. | JINZHU WEALTH is a Guangzhou-headquartered online financial services platform offering peer-to-peer lending, wealth management products, and payment solutions. The company facilitates transactions through its mobile app, connecting individual investors with small business borrowers across China. | Lanqiao Quanta is a software developer for the logistics industry in China. The company delivers proprietary information systems for third-party logistics and dedicated line operations, including warehouse management, transportation tracking, and supply chain optimization tools. It conducts R&D to enhance technical capabilities for logistics enterprises nationwide. |
| HQ Country | | | |
| HQ City | - | Guiyang | Guangzhou |
| Deal Date | 25 Aug 2017 | 1 Mar 2016 | 8 Oct 2015 |
| Round | Series B | Angel | Angel |
| Raised | $32M | $500K | $500K |
| Investors | Sky9 Capital; Yunqi Partners; GGV Capital; DCM Ventures | Guishan Jijin | - |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Huochebang investments and their VC round multiples. Start Free Trial | |||
Huochebang Competitors
Huochebang competitors include listed companies like GuoChuang Software and JSTI, and private ones like Rivigo, Korea Credit Data, Globality and Bringg.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Gurgaon | Private | $77M | - | $1.1B | 13.8x | |
 Seoul | Private | $44M | - | $943M | - | |
| San Francisco, CA | Private | - | - | $900M | - | |
 Israel | Private | - | - | $1B | - | |
| China | Publicly listed | $220M | ($17M) | $960M | - | |
| China | Publicly listed | $622M | $30M | $947M | 1.7x |
Huochebang Public Comps
Huochebang is still privately-owned, but its public comps include Keytop Parking, Grupa Pracuj, LegalZoom, GuoChuang Software, Nextdoor, Tripadvisor, Indiamart, Beijing eGova, Jiangsu Tongxingbao and JSTI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $124M | $29M | 7.5x | - | 32.3x | - | |||
| $214M | $95M | 4.6x | 4.4x | 10.3x | 9.7x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $220M | ($17M) | 4.8x | - | (60.4x) | - | |||
| $258M | ($69M) | 2.4x | 2.2x | (8.8x) | 27.8x | |||
| $1.9B | $160M | 0.6x | 0.6x | 6.8x | 4.2x | |||
| $164M | $70M | 4.2x | 4.1x | 9.9x | 11.9x | |||
| $90M | ($52M) | 8.4x | - | (14.5x) | - | |||
This data is available for Pro users. Sign up to see all Huochebang competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Huochebang
| When was Huochebang founded? | Huochebang was founded in 2008. |
| Where is Huochebang headquartered? | Huochebang is headquartered in Guizhou, China. |
| Is Huochebang publicly listed? | No, Huochebang is a private, VC-backed company. |
| What is Huochebang's valuation? | Huochebang was last valued at $1B in its Series B in May 2017. |
| How much funding has Huochebang raised? | Huochebang has raised $327M across 3 funding rounds. |
| What was Huochebang's last funding round? | Huochebang's last funding round was a $56M Series B in August 2017, led by All-Stars Investment. |
| Who are Huochebang's investors? | Huochebang's investors include All-Stars Investment, Tencent, DCM Ventures, Baidu Capital, International Finance Corporation and IFC Venture Capital Group. |
| Which companies are comparable to Huochebang? | Companies comparable to Huochebang include Rivigo, Korea Credit Data, Globality, Bringg, GuoChuang Software and JSTI. |
| How many companies has Huochebang invested in? | Huochebang has invested in 3 companies, including 51zhaoyou.com, JINZHU WEALTH and Lanqiao Quanta. |
| What was Huochebang's last investment? | In August 2017, Huochebang invested in 51zhaoyou.com's $32M Series B alongside Sky9 Capital, Yunqi Partners, GGV Capital and 1 other investor. |
See companies similar to Huochebang
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.