Guazi.com raises $ 400 million to establish itself in the used car market

by bold-lichterman

  • Guazi.com directly connects sellers and buyers of used cars.
  • The Beijing-based company currently operates in more than 200 cities in 30 provinces in China.

The amount

The Chinese start-up Guazi.com, which is developing a used car marketplace, has completed a funding round of $ 400 million led by Sequoia Capital. H Capital, CMB International, Jingxin Venture Capital, Dragoneer Investment Group, Matrix Partners China and BlueRun Ventures also participated in the transaction. This is in addition to the $ 250 million raised by the company in September 2016.

The market

Founded in 2014, Guazi.com directly connects sellers and buyers of used cars. The Beijing-based company currently operates in more than 200 cities in 30 provinces in China. The start-up is led by Yang Haoyong, founder of the classifieds site Ganji.com which merged with rival 58.com in 2015 to create one of the largest local on-demand service platforms in China.

In the used car market, Guazi.com has to face other players in the sector offering a similar platform. Among them, we find Chezhibao, which has just raised 73 million dollars.

The objectives of the Start-up

With this new investment, Guazi.com plans to improve the technology of its platform and expand its network of used cars and automotive partners.

CEO: Yang haoyong

Creation date : 2014

Seat : Beijing

Activity: used car marketplace

Funding: $ 400 million in June 2017