Renrenche, founded in 2014, is a Chinese used-car marketplace that initially focused on second-hand vehicle trading. It has expanded into financial services and is considering a foray into new-car sales. The company reported 21,000 daily active users in December 2017, according to Jiguang. Renrenche has raised roughly US$760 million across six financing rounds, and it recently closed a US$300 million round led by Goldman Sachs with participation from Tencent and Didi Chuxing. The company has been deepening strategic ties with Didi Chuxing—Didi invested US$200 million last September, added a second-hand car sales feature in its app directing users to Renrenche, and the two firms are cooperating on new car retail and offline vehicle maintenance; Didi is reportedly planning to buy 1 million cars from the marketplace over three years. Tencent also participates but has investments in competing marketplaces including Chehaoduo, Yixin and Uxin. RenRenChe is a China-based, three-year-old online peer-to-peer car marketplace that enables car owners to sell directly to other consumers. The platform operates as a classified site covering over 80 Chinese cities and claims about 100,000 car listings. Its core product is consumer-to-consumer used-car listings and related marketplace services. As part of the deal with Didi, the ride-hailer will look to integrate RenRenChe’s service into its apps and contribute to R&D and technical development. The article notes there are no plans to take that integration overseas with Didi’s global partners. According to Crunchbase, RenRenChe has raised about $460 million to date (including the latest investment). RenRenChe is a Beijing-based online used car marketplace. The company operates an online platform focused on used-car transactions. According to the article, it recently attracted a new funding round totaling $150 million. Prometheus Capital and China Minsheng Investment joined the round. The report did not disclose any revenue, user metrics, valuation, or other operational details. No future plans or product roadmap were described in the article.

Total raised

$650M

Funding rounds

3

Latest round

Equity

Latest activity

Apr 2018