<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Prometheus+Capital">Prometheus Capital</a> and China Minsheng Investment have joined a $150-million new funding round in Beijing-based online used car marketplace RenRenChe, according to China Money Network <a href="http://www.chinamoneynetwork.com/2016/09/05/prometheus-capital-and-china-minsheng-investment-join-150m-new-funding-round-in-renrenche" target="_blank">report</a>.
New investors in the round also included HanFor Holdings and Xinjun Capital, while existing investors Shunwei Capital, Ceyuan Ventures and Redpoint Ventures also participated, the report added.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Prometheus+Capital">Prometheus Capital</a> and China Minsheng Investment have joined a $150-million new funding round in Beijing-based online used car marketplace RenRenChe, according to China Money Network <a href="http://www.chinamoneynetwork.com/2016/09/05/prometheus-capital-and-china-minsheng-investment-join-150m-new-funding-round-in-renrenche" target="_blank">report</a>.
New investors in the round also included HanFor Holdings and Xinjun Capital, while existing investors Shunwei Capital, Ceyuan Ventures and Redpoint Ventures also participated, the report added.
Renrenche, launched in April 2014, has provided coverage in 30 cities across China with the transaction of 200,000 used cars cumulatively. The month transaction volume has increased from 12,000 in March to 18,000 in July.
It has set strategic targets of covering 300 cities within this year, boosting the monthly transactions to 30,000 trades and extending its coverage to 1,000 cities in 2017.
RenRenChe has formed a partnership with Tuanchewang to set up 1,000 offline automobile service centres to users last month as well as cooperated with PingAn Bank and Weizhong Bank to provide auto loans.
It received $5 million series A funding from Redpoint since it started and secured a $20 million series B financing led by Ceyuan Ventures and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Shunwei+Capital">Shunwei Capital</a> in December 2014.
In August 2015, <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Tencent+Holdings+Ltd">Tencent Holdings Ltd</a> led a $85 million series C round, which valued the company at $500 million, with participation from all existing investors.
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Prometheus, China Minshend leads $150m funding round in RenRenChe

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