Beijing-based used car online transaction platform RenRenChe.com has completed US$20 million series B financing led by Ceyuan Ventures and Shunwei Capital, according to the company’s Weibo account.
Existing investor Redpoint Ventures also participated. The latest round values the company at US$150 million.
Founded in April 2014, RenRenChe.com received US$5 million series A from Redpoint at the time of establishment.
It launched its services in July, and currently operates in Beijing, Guangzhou and Shenzhen.
