PP car rental $60 million B round of funding

P2P PP car rental car rental platform today announced A $60 million B round, led by IDG, morningside capital, capital source, Ming with potential capital, among them A round of investment institutions sequoia capital and clean capital also conducted with cast in this round.

PP car rental is a typical application of the “share economy”, the owner can be car free slot rental income; Tenants can low price rent nearby vehicles by the hour. As early as in 2012, launched in Singapore, then focus on the Chinese mainland market. In June this year, the company received $10 million in A round of funding. The PP car rental business has covered the 12 cities in China, the whole team number has started since last year about 10 people development to the present the scale of nearly 600 people.

PP car rental CEO Zhang Bingjun introduction, B round of financing is mainly used to continue to accelerate the market expansion and improving operation ability; But to construct the risk control system, the strongest industry from two aspects: intelligent hardware equipment and a team building at the same time.

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