Funding round
Guazi Used Car Series C
Guazi Used Car, which works in used car marketplace services in Chaoyang District, raised $818M in a Series C round announced on 1 Mar 2018, led by Tencent Holdings. 14 firms took part, 14 of them already investors. It is Guazi Used Car's second venture round on record; the one before was a Series B in Jun 2017.
$818M
Amount raised
Not disclosed
Post-money valuation
14
Investors
1 lead
Valuation
What this round says about the price
Guazi Used Car did not disclose a valuation in this round. It came 9 months after Guazi Used Car's Series B. It is 30% of the $2.72B Guazi Used Car has raised in the venture rounds on record. Guazi Used Car raised again 11 months later: a Growth round of $1.50B in Feb 2019, at $9.00B post-money.
Investors
Who put money in
Tencent Holdings led the round with 13 other firms. Tencent Holdings, HSG, HCapital and DST Global and 10 more had backed Guazi Used Car before.
Lead investor
- Tencent Holdings existing investor
Also in the round
- HSG backs 118 venture-backed companies existing investor
- backs 4 venture-backed companies existing investor
- DST Global backs 179 venture-backed companies existing investor
- Capital Today existing investor
- Shougang Fund existing investor
- Shanhang Capital Investment existing investor
- existing investor
- backs 14 venture-backed companies existing investor
- backs 4 venture-backed companies existing investor
- GIC backs 98 venture-backed companies existing investor
- IDG Capital backs 49 venture-backed companies existing investor
- backs 14 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $50M, and this round was 16 times the median. The closest in time, other companies' Series C rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CARS24 Automobile Dealers & Manufacturers | 18 Jul 2018 | $50M | not disclosed | Sequoia Capital |
| Automobile Dealers & Manufacturers | 5 Sep 2018 | $100M | not disclosed | not named |
| Automobile Dealers & Manufacturers | 30 Jul 2017 | $39M | not disclosed | Vitruvian Partners |
| Automobile Dealers & Manufacturers | 5 Jul 2017 | $20M | not disclosed | Integrated Asset Management and Digital Garage |
| WM Motor Automobile Dealers & Manufacturers | 8 Mar 2019 | $446M | not disclosed | Baidu |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Guazi Used Car raise in its Series C round?
Guazi Used Car raised $818M in its Series C round, announced in Mar 2018.
Who led Guazi Used Car's Series C round?
Tencent Holdings led it, with HSG, HCapital, DST Global, Capital Today and Shougang Fund and 8 more.
What was Guazi Used Car's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Automobile Dealers & Manufacturers?
5 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $50M, and this round was 16 times the median.
Did Guazi Used Car raise again after this round?
Yes: a Growth round in Feb 2019 of $1.50B at $9.00B post-money.