Gongpingjia, a KBB-like used car valuation service, received $3.5 million funding from Morningside Ventures (report in Chinese).

As a third-party data service, Gongpingjia helps car dealers and buyers by providing an objective price, since unbiased value is undeniably essential for getting a fair deal. The company integrates the used car information based on searching engines in a bid to report on the current price, historical price and price changing trends of used cars.

Different from KBB, Gongpingjia also offers valuation service for a specific car by taking car conditions and depreciation factors into consideration. Gongpingjia gained access to insurance settlement records of a certain car via cooperation with insurance companies, which enabled Gongpingjia to give a more precise valuation according to the actual conditions of the used car.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.