Our weekly column summarizes the tech financing highlights in China this week.
Although there are many car rental giants in China with a large market share, some new players are still joining the competition by providing different services and products. The overall market size of car rental in China will grow to RMB 380 billion (USD 56 billion) in 2018. For those companies which play unique roles, they can still earn a share of the market, as we have Wukong Zuche, which combines car rental with tourism services, securing a USD 74 million Series B for financing.
Car rental platform Wukong Zuche receives USD 74M for Series B
Wukong Zuche
Founder: Hu Xianhe
Founded in: 2014
Financing status: RMB 500 million (USD 74 million) for Series B financing in 2017
Car rental platform Wukong Zuche on Friday received USD 74 M for Series B financing round to expand its car rental services across China.
Online collaboration tool Yiqixie receives USD 7.8 million for Series B
Yiqixie
Founder: Cai Jian
Founded in: 2014
Financing status: RMB 53 million (USD 7.8 million) Series B round in 2017
Online collaboration tool Yiqixie on Friday received USD 7.8 million for its Series B financing round in order to increase revenue with its market expansion plans.
Fitness app Qing+ receives USD 8.8 million for Series C
Qing+
Founder: Liu Baojian
Founded in: 2014
Financing status: RMB 60 million (USD 8.8 million) Series C round
Fitness app Qing+ on Friday received USD 8.8 million for its Series C financing round to manufacture and sell food for dieting.
Biopharmaceutical company PegBio receives USD 20M for Series E
PegBio
Founded in: 2011
Financing status: RMB 135 million (USD 20 million) for Series E financing in 2017
Biopharmaceutical company PegBio on Friday receives USD 20 M for Series E financing round to develop more drugs for diabetes.
Convenience store startup Xiaomai receives USD 18.5 M for financing
Xiaomai
Founded in: 2015
Financing status: RMB 125 million (USD 18.5 million) for financing in 2017
On Tuesday, convenience store Xiaomai receives USD 18.5 M in financing to improve its supply chain’s efficiency.
Online flower retailer Reflower receives undisclosed Series B round in tens of millions of USD
Reflower
Founder: Zhu Yueyi
Founded in: 2015
Financing status: Series B financing round in 2017 amounting to hundreds of millions of RMB (tens of millions of USD)
Car rental platform Bage receives USD 3.7M for Series A
Bage
Founded in: 2016
Founder: Sun Yang
Financing status: RMB 25 million (USD 3.7 million) for Series A financing in 2017
Car rental platform Bage, on July 18, received USD 3.7 million for their Series A financing round to help them expand to more cities across China.
Online car trading platform Zhuantou Automobile receives USD 5.9M for Series A+
Zhuantou Automobile
Founder: Xia Jing
Founded in: 2015
Financing status: RMB 40 million (USD 5.9 million) for Series A+ financing in 2017
Online car trading platform Zhuantou Automobile, on July 18, received USD 5.9M for Series A+ financing round for market expansions.
Installment buying service provider Juzifenqi receives USD 5.9M for Series A
Juzifenqi
Founder: Shi Xiaodong
Founded in: 2014
Financing status: RMB 40 million (USD 5.9 million) for Series A financing in 2017
Installment buying service provider Juzifenqi, on July 19, received USD 5.9M for Series A financing round to improve its risk management efficiency.
Fintech company Fumi receives undisclosed Series A+ in millions of USD
Fumi Technology
Founder: Wang Anquan
Financing status: Series A+in 2017 amounting to tens of millions of RMB (a few millions of USD)
Fintech company Fumi, on July 19, received undisclosed Series A+ in millions of USD for global expansion.
（Top photo from 58pic.com）
