Tencent chases down Chehaoduo in $818m round

Mar 2, 2018 • Robert Lavine

Online automotive retail and services platform Chehaoduo has raised more than $1.7bn in total, after Tencent led its series C round.

Internet group Tencent has led an $818m series C round for China-based automotive e-commerce platform Chehaoduo, China Money Network reported today.

Shougang Fund, an investment branch of steelmaker Shougang, and ICBC International, a subsidiary of Industrial and Commercial Bank of China, also took part in the round.

The investors were completed by Yunfeng Capital, FountainVest Partners, GIC, IDG Capital, Taihe Capital, Sequoia Capital China, H Capital, DST Global, Capital Today and Shanhang Capital Investment.

Chehaoduo was formerly known as Guazi,…

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