Qiming re-ups in Chinese car rental platform Zuzuche
China-based third-party car rental platform Zuzuche has received Series C funding from Qiming Venture Partners.
The invest - said to amount to tens of millions of dollars - will be used to accelerate the company’s overseas expansion, including the addition of more foreign language services.
Guangzhou-based Zuzuche was launched in 2011, offering price information and online booking services with various overseas and domestic operators. The company added hotel, destination, dining booking services in 2016 and introduced its international platform a year later. It claims to have been profitable since 2014, generating several million renminbi per year.
Zuzuche's car rental system is connected to more than 700 rental providers, including Avis, Europcar, and Hertz. The company's network covers 6,000 cities in 200 countries, and it says it has served more than 20 million customers since inception.
Zuzuche raised RMB10 million in angel funding from Matrix Partners China in 2011 and a Series A round of $10 million led by Qiming in 2014. A Series B led by GF Investment came two years later.
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