Used-car sales platform Renrenche has scooped $85 million USD in Series C funding from Tencent. The company, which was founded by a series of ex-Baidu employees, now has a valuation of $ 500 Million USD. 

Founded in April 2014, the company received $5 million USD series A funding from Redpoint Ventures and launched its services in July in Beijing, Guangzhou and Shenzhen.

Only five months later the Beijing-based company announced US$20 million in B series funding, valued at $ 150 million USD. It was led by Ceyuan Ventures and Shunwei Ventures, the venture capital fund backed by Xiaomi CEO Lei Jun and existing investor Redpoint Ventures also participated in the funding. 

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com