CassTime closes USD50m Series C2 round led by Greater Bay Area Homeland

CassTime has recently announced the closing of a 50 million US dollars Series C2 financing round, led by Greater Bay Area Homeland. Proceeds from this round will mainly be used for technology development, platform infrastructure construction, and marketplace business expansion.

CassTime has recently announced the closing of a 50 million US dollars Series C2 financing round, led by Greater Bay Area Homeland. Proceeds from this round will mainly be used for technology development, platform infrastructure construction, and marketplace business expansion.

Previously, CassTime has received multiple rounds of funding from investors including Sequoia Capital China, Shunwei Capital, Source Code Capital, Fosun RZ Capital, among others. Last October, CassTime just secured 80 million US dollars in Series C1 round co-led by Sequoia Capital China and Source Code Capital, with participation from existing investor Hua Capital.

CassTime was founded on May 20, 2015 and is headquartered in Shenzhen. The company is committed to building an open Internet ecology for the automotive aftermarket industry, and its businesses include a full vehicle parts trading platform, intelligent store management system, and supply chain finance, etc.

To date, CassTime has connected more than 1,600 suppliers, serving more than 86,000 professional repair shops across China, with operations in 366 cities. Its auto parts platform has a near 99% satisfaction rate for supplying parts for high-end vehicles and provides services for about 1.5 million cars per month.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/23/casstime-closes-usd50m-series-c2-round-led-by-greater-bay-area-homeland/.

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