Melon used car announced the completion of the A round of 204 million 500 thousand financing

NetEase science and technology news March 30th news, today, the seeds used car sales network announced the completion of the A round of financing, amounting to $204 million 500 thousand. The investment led Party voted for the Chinese Sequoia Capital Fund and capital letter, in addition to mountain capital, venture capital, angel fund, micro cloud annovi investment and several well-known investment institutions involved with the cast.

melon seeds used car selling network was established in November 27, 2014, is a used car direct selling (C2C) electronic business platform. As an important entrance, second-hand car trading and auto finance dominated the car market after the 2015, more than 50 thousand individual owners by seeds used car platform car sold to individual buyers, the platform cumulative sales of more than 3 billion 700 million yuan; in the area of services, to provide users with more than 200 million yuan loan service; at the same time, melon seeds the second-hand car also provides users with insurance, maintenance, maintenance and a series of derivative services.

at the completion of the A round of financing, the seeds of second-hand car at this stage of the valuation of more than $1 billion, financing funds will be used mainly for market expansion, product optimization and improve the user experience, in order to consolidate the existing second-hand car market advantages of melon seeds. In addition, some of the funds will also focus on the integration of the layout of the car used in the field of melon seeds in the automotive market after the service, which will be as a strategic automotive finance projects, access to key inputs.

China used car market in recent years, the outbreak of the situation. According to the China Automobile Dealers Association statistics, in 2015 China used car trading volume of 9 million 417 thousand and 100. "Blue book" is expected to e-commerce, in 2020 the national second-hand car trading volume will exceed 20 million, the transaction amount more than 1 trillion yuan. DDT data show that by 2020, China’s auto market financial penetration will reach 50%, the market size reached $1 trillion and 800 billion.

Yang Haoyong said: "this round of financing that full approval for the second-hand car industry and the seeds of second-hand car business development in the capital market, the power of capital, the seeds will complete the expansion of the market and at the same time after the occupation, integration of automobile service industry chain, to provide products and services in a series of competitive consumer scene based on the realization of through commercial data insight into consumer behavior, so as to drive business innovation and upgrading of the goal."

2016, the seeds of second-hand car will achieve three major goals: by the end of 100 the city coverage, break 20 billion yuan turnover, the number of employees reached 8000 people; provide over 2 billion yuan car consumption loans for users to create the seeds of automobile finance brand; through the second-hand car trading service chain.

at present, seeds of second-hand car business covering the city has reached the number of 75, real time peak of more than 50 thousand cars in the car source, with more than 4000 employees. (Allen)

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