DoNews January 15th news (reporter Zhou Qinyan) the second-hand car electricity supplier group today announced the completion of a new $500 million round of financing, by TPG, Jeneration Capital, the new capital of the United led, Huaping, tiger Global Fund, Hillhouse capital, KKR, photocontrolled Zhongying new industry fund, Hua Sheng and other new and old capital shareholders to participate with the cast.
excellent letter group chairman and CEO Dai Kun said that after this round of financing, excellent letter will increase the continued investment in business development, product service and brand awareness, optimizing the second-hand car industry ecosystem layout; and with strong financial strength and strong execution, innovation and development of leading industry.
Huaping Investment Group Co President Chinese District, Mr. Cheng Zhanglun said, excellent letter after the team of Chinese market many years of practice and thinking, in-depth study and the United States, Japan, the global second-hand car industry, combined with the characteristics of the market, Chinese establish Chinese development business model and operating system, and constantly improve and innovate, adhere to expand in the second-hand car in the field layout, and constantly push the platform coverage and scale. Strong execution of the team, but also to ensure the sustained and healthy development of an effective business model, and constantly strengthen the barriers to competition.
tiger Global Fund Global Partner Jason Tan talked about why so popular excellent letter said, "we know Dai Kun team for many years, and maintain close communication. Over the years, the team has a clear sense of strategy for each step of business development. At the same time, in the process of strategic landing, whether it is business or financial performance, always be able to schedule or exceed expectations."
data show that excellent letter group was founded in 2011. Main business includes: used car online wholesale platform excellent letter shoot, second-hand car online retail platform excellent letter used car, excellent letter financial and excellent letter data. Its disclosure of data show that in 2016 the scale of excellent letter business grew by 3 times compared with the year of 2015, in December 2016, excellent letter single month trading exceeded the size of the unit, the transaction size of 3 billion 700 million, the monthly income of more than $150 million. Dai Kun this year turnover vehicle excellent letter is expected to reach 800 thousand, the transaction amount is expected to exceed 60 billion. (end)