Sequoia, Innovation Works Lead Series B In HahaPinche

Beijing-based carpooling app HahaPinche has received tens of millions U.S. dollar series B financing from Sequoia Capital and Innovation Works, according to Chinese media reports.

The company previously received millions of U.S. dollar series A financing from Innovation Works in 2012. Chinese smartphone maker Xiaomi’s CEO Lei Jun invested millions of RMB angel investment in 2011.

Launched in 2014, HahaPinche offers an online connection platform between private car owners and passengers who need rides in China.

China Life Insurance company, the world’s largest insurance company in terms of market capitalization, provides insurance to the platform’s users.