Chinese P2P car rental platform receives USD 47M in B-series funding


P2P car rental website based Shanghai has raised RMB 300 million (USD 46.9 million) in series B funding from China Pacific Insurance Group, Hearst Ventures, Ivy Capital, Matrix Partners China and Ce Yuan Ventures. Chairman, Zhang Wenjian, told Tencent news portal on Monday that not only did China Pacific Insurance Group invest in the startup, the insurance company has also provided RMB 2.05 million in liability insurance. China Pacific Insurance Group encourages car owners to register insurance with’s platform. was founded in May 2014 and now has 100,000 cars registered with the platform and over 10,000 types of car to choose from. One million users have registered with the platform, according to Zhang. The company’s service covers more than 12 cities including Beijing, Shanghai, Shenzhen.

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