Used car auction site Uxin, which has now raised $430m in less than a year, plans to use the cash to expand its business-to-customer sales platform.
China-based online used car marketplace Uxin has raised $170m in funding from investors including search engine operator Baidu.
Baidu was joined in the round by investment firm KKR, and investment management firm Coatue Management. The funding, announced yesterday, was closed on Sunday.
Founded in 2011, Uxin’s core service is an auction site for used cars. The company employs specialists across 50 Chinese cities to verify the condition of each car put up for sale on its platform.
In addition to…
