China-based automotive parts marketplace Haoqipei completed a $60m series D round on Wednesday led by Access Technology Ventures, an investment vehicle for diversified conglomerate Access Industries.
Quantitative trading and technology firm Susquehanna International Group (SIG) also took part in the round, alongside XVC Venture Capital, Jeneration Capital and DCM Ventures.
Founded in 2016, Haoqipei operates an online business-to-business trading platform where automotive parts suppliers can sell components to repair shops. It also offers warehousing and logistics services, and has a presence in more than 100 cities across China.
The funding will accelerate the company’s business growth. David Yang, principal at Access Technology Ventures, has joined its board of directors in connection with the round.
Haoqipei has raised more than $150m in funding to date, it said. Access Industries and SIG contributed to a $60m series C round in January 2019 that was co-led by DCM Ventures and Jeneration Capital, and which also featured XVC Venture Capital and private investor Yuri Milner.
DCM Ventures and Yuri Milner had previously co-led $20m series B round for Haoqipei in October 2018, that included SIG, Red Point Ventures and XVC Venture Capital, while Yang revealed this week that Access Technology Ventures also invested in the company in 2018.
Haoqipei closed a series A round in late 2017 worth “tens of millions of dollars” according to China Money Network, which also named Shunwei Capital as an early investor.
