GuiYang HuoCheBang (IFC-39207)

Countries
  • China
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 19, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GUIYANG HUOCHEBANG
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 2, 2017

Disclosed by Bank Nov 17, 2016


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Project Description
HuoCheBang is a China-based, nation-wide, long haul logistics B2B platform. It brings together cargo shippers and truck drivers through its online load board to improve efficiency in the Chinese long haul logistics industry, and increases income while lowering cost for truck drivers and providing additional services. HuoCheBang is a private company founded and led by Mr. Wenjian Dai, a Chinese national, since 2008. The Company’s current shareholders include management and top institutional investors in China. Expected Development Impact: 1) Increased access to quality service: HuoCheBang helps provide cargo shippers and truck drivers with higher quality value-added services through the creation of a more transparent market. 2) Efficiency Improvement: Improving the efficiency of China's freight logistics market by reducing (a) vacancy for trucks; (b) average number of days for truck drivers to find the next load; (c) intermediary cost 3) Additional Income for truck drivers: Enabling additional income for truck drivers and reducing shipping costs for shippers who can grow their businesses through HuoCheBang's logistic network and ecosystem.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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