Sequoia leads $50m round for second-hand car platform Cheyipai
Sequoia Capital has led a $50 million round of funding for Cheyipai, a Chinese second-hand car trading platform. Existing backers Morningside Ventures, Matrix Partners and CITIC Capital also participated.
The latest round of financing, which was completed in only two-and-a-half months, is said to be the largest ever seen in China's vehicle e-commerce segment. The fresh capital will be used to optimize online-to-offline...
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