Beijing car rental startup brings in new funding thanks to taxi-finding app
Skift Take
It seems like taxi-hailing apps are controversial and disruptive in China, too, with authorities mulling a crackdown because of surcharges/fees. Perhaps Yongche would find a more receptive environment in New York City, where things are starting to loosen up for taxi apps.
Beijing-based car rental startup Yongche has been diversifying recently, launching a taxi finding app in the form of “DaChe Xiaomi”. Investors seem to be appreciating this move into a hot new niche in China – Yongche has secured a massive new round of funding this weekend, with its taxi app being a major focus of the investment.
Yongche’s investor this time round is China Broadband Capital Partners. The funding amount hasn’t been revealed, but it’s believed to involve tens of millions of dollars. Yongche’s series A round came in August 2011, and was in a similar range.
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