In the evening of August 29th, Shanghai-based Yihai Automobile Leasing Co., Ltd. announced that it has formally signed an investment agreement with investors headed by Goldman Sachs, with a total investment amount of US $ 70 million.
Yihi Rent-A-Car said the transaction is expected to be completed in the near future. This round of financing was led by Goldman Sachs. Existing shareholders Qiming Venture Capital, CDH Ventures, Ignition Capital, JAFCO Asia and New Access Capital all followed suit.
Zhang Ruiping, founder, chairman and CEO of Yihai Rent-a-Car, said that he will use this financing to continue to expand the fleet size and city coverage and further improve the customer experience.
Yihe Rent-a-Car is a national chain car rental service provider. It develops personal self-driving business in 34 large and medium-sized cities across the country. The car rental business covers more than 70 cities across the country.
It is reported that Yihai Car Rental has raised US $ 95 million through financing from three venture capital companies.
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