Maihaoche secures new financing round of over USD20m

Maihaoche, a new car-focused B2B e-commerce platform, has secured more than USD 20 million in its latest financing round. The investment was led by Zhengjiang Heico Holding Group, and joined by existing investor Sinovation Ventures, Crescent Point Group and other institutions.

Maihaoche, a new car-focused B2B e-commerce platform, has secured more than USD 20 million in its latest financing round. The investment was led by Zhengjiang Heico Holding Group, and joined by existing investor Sinovation Ventures, Crescent Point Group and other institutions.

Li Yanzhu, founder and CEO of Maihaoche, said that the new cash will make the company more capable of helping auto dealers run their business.

Maihaoche was established in 2014, headquartered in Hangzhou. It allows small auto dealers to order new cars on its online platform from automakers’ franchised dealers at attractive prices. The company also offers logistics and supply chain financing services to help these smaller dealers deliver cars to end buyers.

Maihaoche is defined as the first B2B 3.0 model representative enterprise in China. It has now covered 100,000 car dealers nationwide with hundreds of thousands of online real car sources, covering all provinces and cities in the country. The total “good car supply chain” financing service provided to dealers has reached nearly 20 billion yuan.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/19/maihaoche-secures-new-financing-round-of-over-usd20m/.

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