SoftBank Vision Fund and Sequoia Capital China have injected an additional $200m in funding to bring the series D round, already backed by the former, to $1.7bn.
China-based automotive e-commerce platform Chehaoduo has increased its series D round to $1.7bn following a $200m extension from telecommunications conglomerate SoftBank and VC firm Sequoia Capital China, China Money Network reported today.
SoftBank invested through its Vision Fund, having supplied the initial $1.5bn tranche through the same vehicle in February 2019.
Chehaoduo, spun off from classified marketplace Ganji in 2015, runs new and used car trading platforms. The company also supplies automotive parts and offers car financing and maintenance…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
