Fengzhixing Automobile Financial Information Service, operator of second-hand automotive portal Chedai.com, has announced completion of RMB 360 mln in Series B funding at a press conference in Beijing.
The round was led by Youjin Capital and Addor Capital, with participation from Matrix Partners, CreditEase New Finance Industry Investment Fund, and internet finance platform operator 360 Jinrong.
Chedai also announced the launch of a used car information-sharing platform “DASS,” which provides vehicle information lookup, inspections, regulations, and notices. Users can look up a vehicle’s make, model, mileage and status using the VIN (Vehicle Identification Number), and the platform also has different levels of authorization to protect client information security.
The portal previously won RMB 217 mln Series A+ funding from China Growth Capital, with participation from Youjin Capital and Matrix Partners in April 2016, and the company is already preparing Series B+ funding, revealed founder and chairman Li Haiyan.
