Galaxy Capital Leads $18M Series B Round In YouChe

Beijing-based online used car trading platform YouChe has completed US$18 million series B financing led by Galaxy Capital, according to Chinese media reports.

Existing investors IDG Capital Partners and Zhen Fund also participated in the round.

Founded in December 2013, YouChe previously received several million RMB angel investment from Zhen Fund in December 2014.

In July 2014, it received US$10 million series A financing led by IDG.

YouChe.com is an O2O (online to offline) platform facilitating used automobile transactions.

Other similar platforms in China including Cheyipai.com, SouChe.com, Youxinpai, Carsing, all have received venture funding in the past year.