Top 10 decacorns in Asia Pacific

|May 11|magazine2 min read

10. Lalamove

Valuation US$10 billion
Headquarters Hong Kong

Asia’s latest firm to hit decacorn status following a series F funding round where it achieved US$1.3 billion is Lalamove, a Hong Kong headquartered on-demand same-day delivery service firm which has recently expanded to the US. Dubbed the Uber of local couriers, the Lalamove platform which was founded in 2013 by Zhou Shengfu, connects freelance drivers to individuals and small businesses that need to send or pick up something. 

As of the end of last year, Lalamove was covering 352 mainland Chinese cities as well as cities in Latin America and the US, and with 7 million+ monthly active users and 700,000+ delivery partners. Having hit unicorn status in 2019, and now decacorn status in 2021, Lalamove’s latest funding round, led by Hillhouse Capital and Sequoia Capital China follows a series E funding last October where it chieved US$515 million.