Chinese used car trading platform Youxin has reportedly secured US$170 million of Series C funding from Baidu, KKR and Coatue, just six months after receiving a whopping US$260 million B round led by Warburg Pincus and Tiger Fund. A US$30 million Series A funding was raised from Legend Capital, DCM, Bertelsmann Asia Investments and Tencent in 2013.

Founded in 2011 by Dai Kun, former VP of car trading platform Yiche, Youxin’s core business brand Youxinpai is a B2B second-hand car auction service platform integrating auctions, vehicle detection, secure payment, logistics and transport for automobile manufacturers, second-hand car agencies and large companies.

The new funding will be used to develop Youxin’s B2C used car trading platform Youxin Second-hand Car which launches this week. Backed by a team of over 1000 staff, the platform will provide services in over 50 cities, according to the company.

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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.