Smart parking app developer ETCP has followed a $50m BitAuto-backed series A round with a huge series B led by Wanda subsidiary and strategic partner Ffan.
ETCP, the China-based creator of a smart parking app, has secured RMB1.55bn ($230m) in a series B round led by Ffan.com, an e-commerce subsidiary of conglomerate Dalian Wanda Group, China Money Network reported today.
Founded in 2012, ETCP has developed an app that uses big data and cloud computing technology to help users find, reserve and pay for parking spaces in advance.
The company operates in 10 Chinese cities, where it has formed partnerships with a total of about 5,000…
