Online auto insurance platform Cheche365 receives USD 30M for Series B
Founded in: 2014
Financing status: RMB 200 million (USD 30 million) for Series B financing in 2017
Online auto insurance platform, Cheche365, received USD 30 million for Series B on November 2 to establish an ecosystem for comprehensive financial and insurance services.
Cheche365 is an online auto insurance platform that connects insurance companies and distribution channels. Its service targets are divided into three segments: agents, businesses, and consumers.
It cooperates with insurance companies to provide services for agents and works with online traffic platforms such as Baidu Maps in order to meet business customers’ demands. It also offers individual customers insurance support through WeChat public accounts, mini-programs, and apps. Additionally, Cheche365 shares its profit with insurance companies.
Founded in 2014 in Beijing, Cheche365 has formed cooperative relationships with more than 30 insurance companies, and has connected with over 100 online and offline trading scenarios. It covers 1,000 cities in China, serving nearly one million users.
This Series B financing round was led by China Capital Group, with Shunwei Capital, China Broadband Capital and other investment institutions participating as investors. The company plans to use the funds to expand its online and offline business, establish an ecosystem for comprehensive financial and insurance services, and invest in the development of its platform.
(Top photo from 699pic.com)