Chinese used car trading platform Renrenche.com has gained new investment of USD200 million from strategic investor Didi Chuxing.
Prior to this, Renrenche.com already received investments from Tencent, Shunwei Capital, and Ce Yuan Ventures.
Li Jian, founder and chief executive officer of Renrenche.com, said that the joining of Didi Chuxing will directly bring a volume of over 400 million traveling users and 17 million drivers to Renrenche.com. The strategic investment of Didi Chuxing will provide a huge resource advantage to Renrenche.com in its future competition in the used car market. With the support of its investors, Renrenche.com will accelerate expansion, enhance reputation among users, and establish the largest and most reliable used car trading platform in China.
Apart from fund support, Didi Chuxing will implement in-depth cooperation with Renrenche.com in sectors like product, technology, operation, and business planning. The two parties will achieve synergistic effect in technical innovation and user experience improvement to help Renrenche.com rapidly increase used car trading scale, improve operational efficiency, and accelerate automotive finance and after-sales service layout.
In the future, Didi Chuxing may launch car trading services provided by Renrenche.com on its platform.