Time-share car rental application car rental car announced today that it has received $30 million in Series A investment. The round of financing was jointly led by Ping An and Qiming Venture Capital, 58 in the same city, and Ether Capital as the exclusive financial advisor for the financing.
Unlike traditional car rentals, the car does not own a vehicle, but a car-to-person car rental platform based on personal-to-person. Through the website of the car rental or the mobile app, the owner can rent the idle car to the tenant who needs the car and get a certain extra income. Tenants don't need to go to the offline car rental store to spend an hour or two to process the car rental. With the mobile phone LBS geolocation, after getting the right vehicle nearby, you can complete the car rental procedure through the mobile APP line. You can rent a more satisfactory car without going out of the community at a price 30% lower than the market. It is necessary to meet the owner to find a car, pick up the car and return the car. The whole process is no more than 10 minutes.
It is reported that this is the largest A-round financing of the car-sharing car rental industry to date, and the financing amount of 30 million US dollars exceeds the sum of the A-round financing quotas of several other companies in the car sharing car rental industry.
Bao Jia Renting a car was founded and served as CEO by the founder and chairman of Xueda Education, Li Rubin. In May this year, he won the first $5 million angel financing in the car sharing car rental industry. Angel investors include Yao Jinbo, founder and CEO of 58 City, and Zhang Jingqiu, founder and CEO of Aika.
Up to now, the number of vehicles to be rented on the Baojia rental platform has reached more than 30,000, and related businesses have already landed in 44 large and medium-sized cities such as Beijing, Shanghai, Guangzhou and Shenzhen.
Li Rubin said that in the future, Baochao Car Rental will make full use of the resource advantages of the car insurance used car business segment of Ping An Group and the local life service of 58 cities in the same period, sharing car rental insurance, credit information and localized car sources in the car. In-depth cooperation in the expansion and other aspects to further expand the competitive advantage of Baojia Renting Car in the field of car shared car rental.
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