Yummy Express, China's Leading Catering Delivery Service for Major O2O Platforms, Completes Series C Financing, Led by ClearVue Partners
Yummy Express works with Baidu Waimai, Meituan-Dianping, Tencent-backed Ele.me and all major China O2O catering, fresh foods platforms and community dining service providers
Currently delivers over 200,000 meal orders per day in 18 cities in China
SHANGHAI, April 19, 2016 /PRNewswire/ -- Beijing-based Yummy Express, China's leading O2O solutions provider offering logistics and operations services announced that it has completed $10m of Series C Financing, led by ClearVue Partners. ClearVue Partners is a private equity fund targeting fast growing and promising consumer companies in the Greater China region. ClearVue Partners is the lead investor along with co-investor SBCVC. This financing will help continue to position Yummy Express as the leading trusted O2O solutions provider in China.
Yummy Express Co-founders Yu Yang, Yang Shuyi and Ba Zhen all come from DHL and YCH, and have a wealth of experience in logistics and delivery in China. Leading takeout O2O platforms and large catering merchants require nationwide logistics service providers in order to provide good services at low cost, with minimal infrastructure investment and high efficiency. The market trend for Yummy Express is very positive: Yummy Express delivered over 5.6 million food orders in January 2016 alone, up from 330,000 deliveries in January 2015 while geographic coverage leapt from covering five cities in China in January 2015 to 18 cities in China in January 2016.
Established in 2012, Yummy Express focuses on meal delivery services for major takeout O2O platforms including China's largest catering merchants such as Baidu Waimai. Additionally, it commits to helping traditional fast-moving consumer goods companies with internet-enabled logistics and operational services. It offers a "3km, 30 min" on-demand service with heat retained - and records and shares the delivery stats information with customers. Yummy Express also delivers fresh foods such as cake and fresh fruit from companies such as missfresh.cn, 1mxian.com and xuxian.com. Yummy Express has over 5,000 proprietary "delivery men" with 200,000 daily orders being provided in China.
"What separates Yummy Express from the 'crowdtasking' competition is that Yummy Express has 5,000 well-trained proprietary 'delivery men' and can guarantee service quality," said Mr. Chen Qing, Vice President of Baidu Waimai. "Our clients are mostly white-collar and have a relatively higher ticket order and Yummy Express' high quality team is the best fit to handle our last mile deliveries in China. Yummy Express is about team, quality and professionalism and it is the perfect fit to handle Baidu Waimai's last mile delivery services in China," he said.
"We are entering a dynamic and transformational time in China's O2O meal delivery sector and I can't think of a better company to partner with," said Harry Hui, Founding Managing Partner of ClearVue Partners. "Yummy Express leads the 'last mile' white-collar food delivery segment in China and is growing both in team size and geographic coverage – daily," he said.
"Yummy Express has established its leading position nationally as a strong O2O solution provider for logistics and BD services with no ambition to build a proprietary consumer-facing platform," said Yu Yang, CEO of Yummy Express. "Yummy Express is the clear market leader in the catering O2O logistics solution market and we're delighted to partner with ClearVue Partners and other investors as we continue to grow and retain our market leadership in China," he said.
About ClearVue Partners:
ClearVue Partners is a private equity fund focused on investments in the fast growing and dynamic consumer sector in the Greater China region, primarily in the food and beverage, consumer lifestyle, and consumer internet/mobile sub-sectors. ClearVue Partners targets early growth and growth stage investments in promising local companies, develops top-tier brands and businesses and enables market entry for leading international companies into China. The ClearVue Partners team has a unique combination of investment, consulting and senior operations experience from the US, Asia and Greater China, with an advisory group of recognized business pioneers in the consumer industry. For more information, please visit www.cvpcap.com
SOURCE ClearVue Partners
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