Conglomerate Legend Holdings and vehicle auctioneer Uxin Group have supported a funding round for the salvaged car marketplace.
China-based vehicle auction service Fairlubo has secured $45m from a consortium featuring conglomerate Legend, which invested through its Legend Capital unit, and second-hand car auctioneer Uxin Group, China Money Network reported yesterday.
Fengshang Capital also contributed funds to the round. Faiirlubo has not revealed details of any previous funding rounds.
Founded in 2011, Fairlubo operates an online auction platform through which users can purchase vehicles that have fallen into disrepair. The company claims to have processed the sale of 20,000…
