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Ctrip Invests in Online Car Rental Firm Yongche

Sina Tech, 12/19/13

Beijing-based Dongfang Cheyun, operator of online car rental platform Yongche.com, has announced the completion of a new round of funding worth USD 60 mln, with investments led by Chinese online travel service provider Ctrip (Nasdaq: CTRP) and Doll Capital Management (DCM).

China Renaissance Partners was the exclusive financial advisor during the latest round of funding.

Yongche.com was established in 2010 and currently provides car rental coverage to 49 cities including Beijing, Shanghai, Guangzhou, Shenzhen, and Hong Kong. The site plans to extend services to over 100 cities in China and abroad next year. The company offers car rental, high-end chauffeur mobile booking, and mobile taxi booking services.

According to Ctrip, Yongche.com products will be recommended and bundled into future company services including flight and train tickets, hotels, and holiday products.

Keywords: Dongfang Cheyun Internet automobile funding Ctrip China Renaissance Doll Capital Management CTRP Yongche taxi booking app

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