Aug 6, 2020
Shenzhen, Aug 7, 2020 (Issuewire.com) - The most exciting news in cross-border e-commerce in China in the post-pandemic era immediately followed an interview with Ebrun, in which ZongTeng Group CEO, Kabicy Wang brought up the idea of "New Infrastructure." The pioneer in cross-border e-commerce logistics in China, GoTen's parent company, has secured 500 million yuan (over $70 million) in Series C1 funding round. It is one of the world's largest funding rounds in the cross-border industry in recent years, which will enable the group to further develop its businesses in the world, including GoTen's dropshipping service for online retailers.
ZongTeng Group Raised $70M in Series C1 Funding Round
ZongTeng Group has successfully completed 2 funding rounds in the past two years, raising over 1 billion yuan in total.
The funding round was led by Taikang Insurance Group, which was followed by Xiamen C&D Inc., Zheshang Group, Fuzhou Financial Holding, Ancheng Capital, while China Renaissance served as the exclusive financial consultant. The funding success indicates that ZongTeng Group's businesses are promising, in investors' favor.
According to the investment director in Taikang Asset, "ZongTeng has created a positive ecological cycle, high barriers to entry. It is one of the most competitive enterprises in cross-border e-commerce logistics in China. With great potentials, ZongTeng will likely stand out in the competition in the world."
China Renaissance Executive, Zhang Hui says, "Through the funding, ZongTeng Group will further develop its service network consisting of three core businesses, i.e., overseas warehouses, international special lines, and e-commerce services, while maintaining its leading position in the cross-border industry."
Competitive Advantages of Overseas Warehouses & Special Line Logistics
ZongTeng Group's current success is largely owed to visionary business plans and accumulated experience in the e-commerce business over a decade. The company managed to build special line logistics and overseas warehouses on a large scale before the prosperity of cross-border e-commerce in 2015 - 2016. Thanks to their solutions, selling medium-sized and large-sized products abroad became feasible and even profitable.
The pandemic has revealed many problems. One of them is unstable delivery, which makes ZongTeng Group's competitive advantages stand out. Evidently, placing the goods nearer to customers can bring better satisfaction. Few enterprises in cross-border e-commerce are like ZongTeng Group which has a full-fledged supply chain network. No wonder that it has achieved great successes in funding rounds in both 2019 and 2020, raising a total of over 1 billion yuan.
GoTen's Dropshipping Service Meets New Growth Opportunities
Nonetheless, all of the cross-border logistics tycoon's overseas warehouses operate beyond the full capacity during the pandemic. According to the head of the group, that's why "New Infrastructure" will be the priority after the pandemic crisis.
"After the crisis, we will attempt to build new infrastructure, including new warehouses and a far-reaching network, and finish what's in the next 2 - 3 years' plan as soon as possible. Particularly, we'll complete and improve our e-commerce fulfillment process, by focusing on warehouse sorting, main transport routes, clearance capacity, and last-mile delivery after landing to provide better services to our customers."
Needless to say, the 500 million fund will allow ZongTeng Group to pursue its G2G (Global to Global) business objectives.
All of its big customers, online sellers, who use YunExpress's special lines to transport goods and GoodCang overseas warehouses to keep stock, can seamlessly distribute products through GoTen Dropshipping Platform to get more sales.
Meanwhile, more and more dropshippers can take advantage of GoTen's business development, which is part of ZongTeng Group's G2G strategy. They are allowed to reduce costs effectively, easily select and dropship top-selling profitable products, get them delivered from overseas warehouses fast, and contact the customer support team around the clock should any problems occur.
Shortly, "New Infrastructure" will be built for a full set of better e-commerce services, and the boom of cross-border e-commerce will arrive soon.
GoTen.com is a professional dropshipping wholesale supplier under ZongTeng Group since 2007. It benefits from all ZongTeng's supply chain resources, including GoodCang, YunExpress, and WorldTech.
Since the launch of GoTen global site, GoTen Dropshipping Platform attracts thousands of visitors worldwide every day, registering considerable surges in sales with 20,000+ profitable SKUs. Additionally, based on big data-based research, its free product recommendations aim to make dropshipping easier on Amazon, eBay, Wish, Walmart, and other online marketplaces.
No membership fees, no credit card needed, only minutes to get started. GoTen makes it easier for everyone to launch and boost their online business.
For press: press(at)goten(dot)com
For sales: support(at)goten(dot)com
Company: Eteng Technology Limited
Source :Eteng Technology Limited
This article was originally published by IssueWire. Read the original article here.
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