EasyVan raises US$10m to fund China, Southeast Asia expansion

Monday, May 30, 2016

(SCMP by Alice Woodhouse) – Hong Kong on-demand van rental start-up Lalamove, known as EasyVan, has raised US$10 million in funding to aid its expansion in China and Southeast Asia.

The latest round led by its existing investor Mindworks Ventures brings the total amount of funding raised by the company in the past 18 months to US$30 million as the company’s founder says Lalamove aims to expand to 49 cities and become profitable this year.

Existing investors, including Chinese venture capital fund Crystal Stream, Taiwan’s AppWorks and Hong Kong family office Aria Group, were joined by Thai securities investment service firm Asia Plus Group.

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