Chedai passes series B check with $52m

Jan 9, 2017 • Robert Lavine

The automotive financing provider raised the capital in a round backed by online lending firms CreditEase and 360Jinrong, bringing its total funding to $86m.

Fengzhixing Automobile Financial Information Service, the China-based operator of automotive finance platform Chedai.com, has closed a RMB360m ($52m) series B round featuring online lending platforms CreditEase and 360Jinrong, according to Marbridge Consulting.

Youjin Capital and private equity firm Addor Capital co-led the round, which included venture capital firm Matrix Partners, while CreditEase invested through its New Finance Industry Investment Fund.

Founded in 2013, Chedai provides credit for used vehicle purchases, offering between RMB50,000 and RMB50m to car dealers, transporters and…

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