Cheyipai drives away with $110m

Feb 10, 2015 • Thierry Heles

Online automotive trading platform Cheyipai raised the money in a series D round featuring Renren and Tencent, taking its total funding to $185m.

Social networking platform Renren has led a $110m series D round for China-based car trading platform Cheyipai, China Money Network reported yesterday.

Internet company Tencent also participated in the round, along with Citic Capital, the alternative investment subsiidiary of state-owned conglomerate Citic, sovereign wealth funds China Investment Corporation and Qatar Holding, and venture firms Sequoia Capital, Matrix Partners and Morningside Ventures.

Citic Capital, Matrix and Morningside previously backed a $50m series C round for Cheyipai in February 2014 that was…

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