Site icon AllTechAsia

Tech Financing in China this week – Car rental market is expanding

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.

Read more

Online collaboration tool Yiqixie receives USD 7.8 million for Series B

Photo form 58pic.com

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.

Read more

Fitness app Qing+ receives USD 8.8 million for Series C

Photo from 58pic.com

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.

Read more

Biopharmaceutical company PegBio receives USD 20M for Series E

Photo from 58pic.com

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.

Read more

Convenience store startup Xiaomai receives USD 18.5 M for financing

Photo from 58pic.com

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.

Read more

Online flower retailer Reflower receives undisclosed Series B round in tens of millions of USD

Photo from 58pic.com

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)

Read more

Car rental platform Bage receives USD 3.7M for Series A

Photo from 58pic.com

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.

Read more

Online car trading platform Zhuantou Automobile receives USD 5.9M for Series A+

Photo from 58pic.com

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.

Read more

Installment buying service provider Juzifenqi receives USD 5.9M for Series A

Photo from 58pic.com

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.

Read more

Fintech company Fumi receives undisclosed Series A+ in millions of USD

Photo from 58pic.com

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.

Read more

(Top photo from 58pic.com)

Exit mobile version