technology news (Xiang Xin) January 15th news, the second-hand car electricity supplier group 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 capital of old and new shareholders to participate with the cast. Huaxing capital and CICC served as financial advisor.
after this round of financing, excellent letter said it would increase its investment in business development, product service and brand awareness continued to optimize the layout of the used car industry ecosystem.
round of investment led Party voted one of the TPG partner Derek Chen said, TPG team conducted three years of tracking on the second-hand car industry, through research and comparison, in user demand, market size, business efficiency, financial index, excellent letter is our team that only has been verified by the model, we believe that the company in more resources, will further expand its competitive advantage and lay a decisive position in the market.
tiger Global Fund Global Partner Jason Tan said, "we know Dai Kun team for many years, and maintained 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."
it is understood that the excellent letter was founded in 2011, after 5 years of development, has built a second-hand car industry a complete ecosystem, including second-hand car business online wholesale platform excellent letter shot, the second-hand car online retail platform excellent letter second-hand car, excellent letter, excellent letter financial data.
in addition, recent excellent letter also launched interactive car information aggregation platform car bole, aims to provide valuable experience for the user to use the true owners to share the life cycle in Car Buying link and the whole vehicle, the car content to create mobile era distribution entrance.
excellent letter group chairman and CEO Dai Kun said that in 2016 the company business scale than in 2015 grew 3 times, just past 2016 December to produce the monthly transactions exceeded 50 thousand, transaction size 3 billion 700 million, monthly income of more than 150 million business performance. Dai Kun said that this year the excellent letter turnover vehicles will reach 800 thousand units, the total size of the transaction will exceed 60 billion, revenue size will quadruple.