Chinese b-to-b used auto-trading platform Maimaiche.com has secured series A+ funding worth approximately 100 million RMB ($14.2 million U.S.). The site is a subsidiary of Alibaba-backed auto services and auto manufacturing conglomerate UCar, which recently acquired German automaker Borgward.
Berlin-based car leasing start-up Vehiculum has secured a €7 million ($8 million U.S.) investment from Runa Capital, Mobility Fund, Smava founder Alexander Artopé, and former investor Coparion. The company raised €3 million during two previous investment rounds in 2017.
When South African brothers Faan and Dirk van der Walt started a business from their garage 18 years ago, they had no idea that WeBuyCars would eventually become a Naspers venture.
Japanese car-buyers have a new app called Remobii to help them search for used cars from registered dealers. The app is owned and operated by Nagoya-based digital content provider ATeam Inc.
Didi Chuxing-backed used auto transaction platform RenRenChe has signed a cooperative partnership with the Municipal Government of Chengdu. As part of the agreement, the company will locate its second headquarters in the city (population: 7.8 million).
New information has come out relating to the collective boycott of AutoHome (NYSE: ATHM) on the part of three 4S dealership companies --- Zhongsheng Group (HKG: 0881), Yuntong Auto, and a third party which has now been confirmed to be Pangda Auto --- over a hike in membership prices. AutoHome’s response has been to deny the existence of any boycott.
Motomi.pl, the auto vertical that was launched in Poland in 2016, is no longer available online. The site seems to have been shut down, though there's been no official statement from its owners.
OLX Brazil, the nation’s No. 1 classified horizontal with growing real estate and auto revenues, has named Paula Zequetti as the company’s marketing manager for autos.
In Slovakia, Ringier Axel Springer’s auto vertical AutoBazar.sk has relaunched its iOS and Android app with a new layout and several new features.
Trive, a privately-held Madrid-based auto sales start-up, told the AIM Group it's open to investment in 2019, following a year of consolidation and strong growth. The new and used car portal earns revenue from financing.