Ride-hailing service provider Huizuche has raised RMB 200 million in its series B round financing led by H&Q Asia Pacific, according to the company’s CEO and co-founder Haoming Huang. Northern Light Venture Capital and VentureShares also participated in the investment round.
Huizuche has previously completed two investment rounds. The angel round was led by Decent Investment, which was founded by former co-founder of Tencent Qing Li. The series A round that raised USD 10 million was led by Northern Light Venture Capital. The current value of the Shanghai-based company is in the region of hundreds of millions of dollars.
Founded in 2014, Huizuche focuses on building a platform that provides overseas car rental services to mainland Chinese travelers. The company now has more than 50,000 service centers in over 5,000 cities in nearly 180 countries and has a fleet comprising almost 320 car brands worldwide.
Huizuche also provides value-added services such as destination airport shuttle and chauffeur service in over 20 countries, as well as insurance products, free GPS in Chinese and mobile Wi-Fi.
After the latest investment round, Huizuche will strengthen its partnership with OTAs, airlines, banks and travel agencies to expand markets by leveraging each other’s advantages. The company aims to provide short-distance service in partnership with destination partners to create more comprehensive independent travel experiences by meeting customers’ diversified lifestyle needs. (Translated by Claire)
