Used Car C2C Operator Secures USD 8-Digit Funding

36Kr, 9/23/13

Beijing-based Souche Holdings, operator of used-car C2C platform Souche.com, has revealed that the company has received USD 8-digit second-round funding led by Sequoia Capital, with participation from first-round investors Morningside Ventures and Ferry Venture Capital. Souche has disclosed that the current round of funding will be used for diversifying the company's business, company branding efforts, and the expansion of services in China.

Souche was established at the end of 2012 as a C2C platform allowing used-car sellers to dictate their own prices, with revenue generated from commissions charged on individual transactions. The site currently has over 30,000 registered users. The company's first physical store is situated in Beijing's Century Golden Resources shopping center, with a total area of 20,000 sq. meters.

Keywords: Souche Ferry Venture Internet funding C2C Morningside second-round Sequoia Capital automobile e-commerce

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