zuzuChe.com completes B-round financing and is to close series B+ round
Outbound car-rental platform zuzuChe.com has raised millions of US dollars in its recently completed B-round funding. The company offers one-stop service including international driving license verification, insurance claims, itinerary planning and GPS service in Chinese language
ChinaTravelNews, Xiaohao Guo – Guangzhou-based outbound car-rental platform zuzuChe.com’s has closed its series B-round funding with millions of US dollars in its account, and its series B+-round is also about to finish, the company’s CEO Jiancheng Li told ChinaTravelNews in an exclusive interview on May 25.
Bin Li, the company’s co-founder, said that zuzuChe.com is focusing on the car-rental segment and wants to make overseas driving vacations easier, safer and more enjoyable for Chinese travelers by improving customer journey based on technological innovations such as big data analysis.
Online car-rental booking by mainland tourists heading overseas turned over RMB 13.13 billion in 2015 and is expected to grow 88.6% this year. The number of overseas self-drive trips by mainland tourists increased 130% in 2015, and overseas car-rental demand for zuzuChe.com had grown six times YoY last year.
Leveraging on innovative big data analysis, the company offers targeted solutions catering to the specific needs of self-drive travelers with its one-stop service that covers international driving license verification, insurance claims, transport planning and GPS service in Chinese language.
Users of zuzuChe.com can access car-rental and related services in some 60,000 outlets in more than 5,000 cities of 180 countries worldwide. The company facilitated overseas car-rental for three million mainland travelers in the past five years.
The company received an angel-round investment of RMB 3 million from Matrix Partners China in 2011 and USD 10 million in its series A-round led by Qiming Venture Partners. (Translated by Jerry)