China-based automotive marketplace operator Yiauto has raised $70m in a series C round led by SIG China, part of quantitative trading firm Susquehanna International Group, DealStreetAsia reported yesterday.
Existing investors including venture capital firms BlueRun Ventures, Sky9 Capital, GGV Capital and K2VC also participated in the round.
Yiauto’s online platform enables customers to purchase cars from more than 40 domestic and foreign car brands. It also operates more than 200 outlets primarily located in the southern region of China, where customers can collect vehicles they have purchased online.
The company had previously received tens of millions of US dollars in a series B round led by Sky9 Capital in September 2020.
Yiauto raised tens of millions of yuan (RMB10m = $1.5m) in a series A round backed by K2VC in April 2019, before picking up RMB150m ($22.3m) in a series A-plus round co-led by BlueRun Ventures and GGV Capital the same month. It had collected an undisclosed amount of angel funding in 2016.