China Renaissance Leads $100M Series C Round In Dida Pinche

Beijing-based ride share mobile app maker Dida Pinche has completed US$100 million series C round of financing led by China Renaissance Capital Investment, according to a news article posted on the company’s website.

TBP Capital, Beijing-based auto information and marketing web portal Bitauto Holdings Ltd., and IDG Capital Partners also participated in the round.

The company says it will use the proceeds on product development, customer service, and sales and marketing.

Founded in 2014, Dida Pinche previously received US$10 million series A funding from IDG, and US$20 million series B financing from Bitauto.

Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.