China Growth Capital Leads $34M Series A+ Round In Diyi Chedai

China Growth Capital has led a RMB217 million (US$34 million) series A+ round in Diyi Chedai, a Shanghai-based auto lending O2O (online-to-offline) start-up, according to Chinese media reports.

Existing investor Matrix Partners also participated in the round.

Founded in 2013, Diyi Chedai completed an undisclosed series A fundraising from CITIC Group, Beijing Automotive Group, Matrix Partners and other investors in 2015.

The company says it has issued loans totaling RMB4 billion to car buyers, dealers, car logistics service providers and financial leasing firms since its establishment.

China Growth Capital is a Chinese venture capital firm focused on financials, industrials and consumer sectors.