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Used Car Trading Site 51Auto Wins USD 30 Mln Series C, 1/22/15

Shanghai-based Shenyou Advertising, operator of used car trading platform, told news outlet that the firm has landed USD 30 mln Series C financing led by Softbank China Venture Capital, with participation from SIG Asia Investment, F&G Venture and DT Capital partners.

51Auto was originally set up as an information platform for used car sales and has grown into an all-in-one O2O trading service platform for sellers, buyers, online and offline stores.

By the end of last year the site's 8 regional divisions had offices in 23 locations, covering 30 provinces and municipalities nationwide. A spokesperson told that the company will run full supply chain services during 2015 including automotive financing, insurance, extended warranties and car trading to create a comprehensive O2O platform which meets the needs of second-hand car buyers and sellers.

Keywords: Internet Shenyou SIG DT Capital second-hand 51Auto O2O F&G Venture Softbank China Venture Capital funding VC automobile third-round


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