Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

O2O Used-car Loan Platform Chedai Completes RMB 360 Mln Series B, 1/05/17

Shanghai-based Fengzhixing Automobile Financial Information Service, operator of second-hand automobile credit platform, 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 360jinrong. 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. began as a used car financer, and provides lines of credit from RMB 50,000 to RMB 50 mln to companies in the auto industry, such as dealers, transporters, and rental companies. offers loan terms from 1 month to 2 years, and provides a number of niche services to consumers and enterprises, such as inventory financing, purchase-order financing, in-transit inventory financing, and commercial vehicle financing. has partnerships with more than 70% of large and mid-sized used car dealers across China, covering 80 cities in 30 provinces. accounts for 6% of China's total used car market and issued more than RMB 12.0 bln in loans in 2016. 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.

Editor's Note: For more information on this topic, please see "O2O Used-car Loan Platform Chedai Lands RMB 217 Mln Series A+," MD 4/11/16 issue.

Keywords: 360jinrong VC automobile online lending Li Haiyan Internet funding Matrix Partners Series B CreditEase Addor Chedai Fengzhixing Youjin


Please note, all fields are required.
None of your personal information will be shared with third parties.


Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports