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Mobile Ridesharing App Dida Pinche Wins USD 100 Mln Series C

DoNews, 5/06/15

Beijing-based Changxing Information Technology, developer of mobile ridesharing app Dida Pinche, announced today that it has completed Series C funding of USD 100 mln led by China Renaissance Capital Investment with Trust Bridge Partners, automotive website firm Bitauto (NYSE: BITA), and IDG Capital also participating.

Following the investment, Dida Pinche will increase its market expansion efforts, upgrade its customer experience and expand its user base.

Dida Pinche was founded in 2014. It previously received Series A investment of USD 10 mln from IDG, and Series B funding of USD 20 mln from Bitauto. It currently covers 13 cities and has more than 4 mln customers.

Editor's Note: For more information on this topic, please see "Rumor: Carpooling App Dida Pinche Seeks Cooperation with Uber," MD 3/30/15 and "Carpooling App Dida Pinche Lands USD 10 Mln Series A," MD 11/18/14 issues.

Keywords: IDGVC funding wireless Bitauto Trust Bridge BITA China Renaissance Capital Investment ridesharing Dida Pinche mobile application third-round

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