Selling a good car claims that they served 500,000 new car transactions in 2019, totaling nearly 100 billion yuan.
I learned that the auto B2B trading service platform “Sell Good Car” announced today that it has completed tens of millions of dollars in financing. The financing belongs to the C round. It is led by Higo Group, with additional investment from Innovation Workshop and Kaixin Group. Investment and financing are mainly used for the digital transformation of industry infrastructure.
Sell Good Car was established in 2014 and is headquartered in Hangzhou. It provides supply chain services for small and medium-sized car dealers in China ’s third, fourth, and fifth tier cities. Its main businesses include transaction services, logistics, warehousing, and supply chain finance. The circulation link between the factory and the dealer’s store.
Selling a good car announced in March 2018 that it received more than US $ 50 million in B + round financing, led by Kaixin Group, followed by Northern Light Venture Capital, Sycamore Capital, and LBI.
The founder and CEO of the company, Li Yanzhu, once worked for Alibaba. He was an employee of Taobao 162. He used to be a partner and CMO of Mushroom Street. Talking about the business logic of selling a good car, Li Yanzhu told, Previously, OEMs generally shipped all cars to 4S stores, and secondary dealers in small and medium-sized cities started from 4S When the store mentions the car, the circulation efficiency is very low. In order to solve this pain point, sell a good car to build more than 300 front warehouses in 96% of prefecture-level cities across the country, digitize each warehouse node, make the upstream and downstream transaction chains online, and help dealers solve the vehicle source one-stop And the circulation of money to improve the overall transaction efficiency.
Li Yanzhu said that in the past, car dealers in third-, fourth-, and fifth-tier cities, in addition to new car sales, had to get through all aspects of car supply, payment, logistics, and maintenance. But now, car dealers only need to concentrate on selling cars The next thing is to sell the car.
Supply chain financial products that sell good cars (Source: Sell good cars)
Selling cars says they have served 500,000 new car transactions in 2019, totaling nearly 100 billion yuan. In addition, they have cooperated with more than 30 large financial institutions to provide system, supervision and related risk control services for the latter, and will also disclose their strategic cooperation with China Construction Bank in the near future.
After investing in the Angel Wheel, which sold good cars, the Innovation Workshop has made additional investments several times. Speaking of investment logic, Gao Xiaohu, executive director of Innovation Workshop, said that since 2018,