SoftBank China Venture Capital, the Chinese corporate venturing unit of Japan-based telecommunications company SoftBank, has led a $30m series C round for China-based car trading platform 51Auto, according to Marbridge Consulting.
SIG Asia Investment, a regional corporate venturing arm of financial services provider Susquehanna International Group, F&G Venture and DT Capital Partners also participated in the round.
51Auto reportedly raised $4.5m from a 2008 series B round and $5.4m in series A funding in 2006. The investors in both rounds were Dragon Groove and DT Capital.
The company operates an online-to-offline service platform for car sellers and buyers, as well as digital and physical retailers. It intends to expand its services to cover the whole supply chain from car financing to insurance to extended warranties and trading over the course of this year.