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Uxin, which runs China’s largest used car e-commerce platform, has raised USD230 million in private placement, adding Chinese classifieds platform 58.Com to its group of investors, The Paper reported.
The new financing is the first for Uxin after it went public on the Nasdaq last June. The Beijing-based firm’s existent investors, the US private equity firms of TPG and Warburg Pincus, also took part in this round.
Uxin’s shares [NASDAQ: UXIN] rose nearly 6 percent yesterday to USD2.50.
Source: yicaiglobal.com
