Used-Car Site Renrenche Raises USD150 Million; Prometheus Capital Buys In
Yicai Global
/SOURCE : Yicai
Used-Car Site Renrenche Raises USD150 Million; Prometheus Capital Buys In

(Yicai Global) Sept. 6 -- Beijing Shanyi Shanmei Technology Co., owner of used-auto website Renrenche, said it has raised USD150 million in a fourth round of fund-raising, with Prometheus Capital taking a stake.

Other investors included Hanfor Beijing Capital Management Co., China Minsheng Investment Group and NXHT Xinjun Investment Co.

Set up in 2014, Renrenche raised USD5 million and USD20 million in its first and second fundraisers in July and December of the same year. Last August, the Beijing-based company secured USD85 million from several institutional investors led by Tencent Holdings Ltd.

Renrenche also said its record monthly transaction volume was 18,000 and it had sold a total of 200,000 vehicles as of July.

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