Chehaoduo, the Shougang Group-backed operator of used car marketplace Guazi, has raised $180m in its series B+ round.

Chehaoduo, a China-based automotive e-commerce company backed by steel producer Shougang Group, has secured $180m in series B+ funding, China Money Network reported today.

The series B+ cash came from a subsidiary of financial services firm Bank of China Group, as well as investment firm DST Global, private equity firm Capital Today and venture capital firms Sequoia Capital China and H Capital.

Chehaoduo runs two e-commerce platforms – Guazi, which focuses on used vehicles, and Maodou, which sells new cars…