Baidu and Sunshine Insurance have supplied $150m in funding to Lionbridge, a week after Baidu announced a collaboration deal with the leasing service.
China-based automotive leasing service Lionbridge Financial Leasing has received RMB1bn ($150m) in funding from internet company Baidu and insurance provider Sunshine Insurance, China Money Network reported today.
Founded in 2012, Lionbridge runs an online platform that provides leasing and lease-back services for small and medium-sized businesses, offering heavy vehicles and manufacturing, agricultural and medical equipment.
The company also facilitates value-add services such as fuel purchasing, insurance, vehicle inspection and auctions. Private equity firm Bain Capital paid an undisclosed amount for…
