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- Carzone
Carzone Valuation, Funding & Investors
Carzone is valued at $1.5B as of September 2021.
Last Carzone valuation
$1.5B
Series D · Sep 2021
Last Carzone funding round
$200M
Series D · Sep 2021
Cumulative funding Carzone raised
$706M
across 6 funding rounds
Key investors in Carzone
Co-Stone Venture Capital
Goldman Sachs
Warburg Pincus
Alibaba Group
YF Capital
Goldman Sachs Growth Equity
About Carzone
Carzone is a Nanjing-based retail chain operated by Jiangsu Kangzhong Shiye Investment selling aftermarket automotive parts. It operates 200 stores across eastern China stocking brakes, filters, spark plugs, and accessories from brands like Bosch and NGK. Founded in 1995, Carzone provides installation services and wholesale to garages in Jiangsu, Anhui, and Zhejiang provinces.
Founded
1995
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Product sales
Valuation
$1.5B (Sep 2021)
Carzone Valuation
Carzone is currently valued at $1.5B, based on its Series D in September 2021.
The $200M round was led by Asia Investment Capital, with participation from Buhuo Ventures, Alibaba Group and Goldman Sachs Growth Equity.
Carzone's valuation has moved from $1.5B at its Series D in March 2019 to $1.5B in September 2021, across 2 priced rounds.
Carzone valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2021 | Series D | $1.5B |
| Mar 2019 | Series D | $1.5B |
Carzone Funding History
Carzone has raised a total of $706M across 6 funding rounds.
Carzone's first fundraising round was a $2M seed round in January 2014. The most recent completed round was a $200M Series D in September 2021.
Carzone funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series D | Asia Investment Capital (lead); Buhuo Ventures; Alibaba Group; Goldman Sachs Growth Equity | $200M | $1.5B | Jiangsu New Carzone Auto Parts is a China-based automotive aftermarket services provider that operates an e-commerce platform offering car repair, maintenance, and parts services. Founded in 2018 by automotive parts producer Carzone, car maintenance service Qiche Chaoren, and Alibaba's Tmall platform, the company had built a comprehensive after-market portal integrating digital services with offline distribution. In September 2021, New Carzone completed a Series D financing round of $200 million led by Asia Investment Capital, with participation from Alibaba Group and Dragon Capital (also referenced as Yunlong Capital in some sources). The round valued the company at approximately $1.5 billion (RMB 9–10 billion), with plans to deploy capital for platform improvements and supply chain management expansion, particularly focused on national market expansion for Tmall Autocare stores. By 2021, New Carzone operated a significant supply chain network with over 1,300 stores across China, serving as a professional auto parts distributor with proprietary SaaS technology (F6 system) that powered both digital and offline operations. The company had previously raised $380 million in pre-Series D funding in early 2019 from Yunfeng Capital, Warburg Pincus, and PAG, and Alibaba had maintained a 47% stake since a 2018 $248 million round. |
| Mar 2019 | Series D | PAG (lead); Warburg Pincus (lead); YF Capital | $373M | $1.5B | Carzone is a China-based automotive aftermarket services provider formed through a partnership between automotive parts producer Carzone, car maintenance service Qiche Chaoren, and Alibaba's Tmall e-commerce platform. The company has built an after-market e-commerce portal providing car repair, maintenance, and automotive parts services across China, with over 800 outlets nationwide as of mid-2019. The round saw participation from returning and new investors including Yunfeng Capital, Warburg Pincus, and PAG, with the company having previously raised $380 million in pre-Series D funding from these same institutional investors. Alibaba maintained a significant stake in the company following a 2018 round where it held 47% ownership. The company planned to expand its outlet network to 2,000 locations by end of 2020 to support its "30 minutes" delivery service model, and established a strategic partnership with DRiV (Tenneco's aftermarket business) in June 2019 to further strengthen its position in the China automotive aftermarket channel. |
| Jul 2017 | Series B | CICC Alpha (lead); Co-Stone Venture Capital (lead) | $50M | - | - |
| Nov 2016 | Series B | Goldman Sachs (lead) | $50M | - | Search results reference a Chinese company, New Carzone (Jiangsu New Carzone Auto Parts), founded in 2018 from automotive parts producer Carzone, operating an aftermarket e-commerce platform for car repair and maintenance services integrated with Alibaba's Tmall. This entity raised $200M in a Series D round on September 16, 2021, led by Asia Investment Capital with Alibaba, Buhuo Venture Capital, and Yunlong Capital, reportedly valuing it between RMB9bn and RMB10bn ($1.4bn to $1.6bn), following $380M in pre-Series D from Yunfeng Capital, Warburg Pincus, and PAG in early 2019. Earlier rounds include a March 2019 Series D-II with $1,520M valuation and a 2018 $248M round where Alibaba took a 47% stake alongside others. |
| Jan 2015 | Series A | Co-Stone Venture Capital (lead); Fude Capital | $32M | - | - |
| Jan 2014 | Seed | - | $2M | - | - |
Who has invested in Carzone?
11 investors have backed Carzone across its funding rounds, including Co-Stone Venture Capital, Goldman Sachs, Warburg Pincus, Alibaba Group, YF Capital and Goldman Sachs Growth Equity.
Lead investors include Asia Investment Capital, PAG, Warburg Pincus, CICC Alpha, Co-Stone Venture Capital and 1 other investor.
Carzone Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2015 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Mar 2019 | ||
| 1 | Lead | Jul 2017 | ||
| 1 | Participant | Jan 2015 | ||
| 1 | Lead | Mar 2019 | ||
| 1 | Lead | Nov 2016 | ||
| 1 | Lead | Mar 2019 | ||
| 1 | Participant | Sep 2021 | ||
This data is available for Pro users. Sign up to see all 11 Carzone investors. Start Free Trial | ||||
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Start Free TrialInvestments by Carzone
Carzone has invested in 2 companies to date.
Latest investment by Carzone was on May 1st 2017. Carzone invested in Car Cloud in their $400K Seed round.
Latest Investments by Carzone
| Description | Car Cloud is a Beijing-based platform serving the Chinese automotive aftermarket. It connects car owners with terminal retailers, brand manufacturers, and supply chain partners for parts procurement and services. Features include inventory management, order fulfillment, and data analytics for repair shops. Launched in 2015, the service covers major cities with logistics support for tires, batteries, and maintenance items. | F6 Automobile Technology is a Beijing-based provider of SaaS management software for auto repair shops in China. The platform covers online reservations, digital vehicle inspections, repair guidance, intelligent POS systems, boss dashboards, and employee performance tracking. Deployed in over 10,000 shops nationwide, it integrates modules to increase sales by 20 percent on average and reduce operational costs through automation. |
| HQ Country | ||
| HQ City | Chengdu | Nanjing |
| Deal Date | 1 May 2017 | 1 Mar 2015 |
| Round | Seed | Angel |
| Raised | $400K | $2M |
| Investors | - | Fuxi Touzi |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Carzone investments and their VC round multiples. Start Free Trial | ||
Carzone Competitors
Carzone competitors include listed companies like Goodyear, Sally Beauty Holdings, NEXTAGE and Jiangsu Zenergy Battery, and private ones like Snack Is Busy and Bianlifeng.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $18B | $1.3B | $1.5B | 0.5x | ||
| Publicly listed | $3.7B | $428M | $1.5B | 0.8x | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $4.2B | $162M | $1.5B | 0.4x | ||
| Publicly listed | $1.2B | $218M | $1.5B | 1.0x | ||
| Private | - | - | $1.6B | - |
Carzone Public Comps
Carzone is still privately-owned, but its public comps include Goodyear, Sally Beauty Holdings, NEXTAGE, Jiangsu Zenergy Battery, Edgars Stores, HORNBACH Holding, Bilia, Adient, Savers Value Village and Green Thumb Industries.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $18B | $1.3B | 0.5x | 0.5x | 6.8x | 5.9x | |||
| $3.7B | $428M | 0.8x | 0.8x | 6.6x | 6.4x | |||
| $4.2B | $162M | 0.5x | 0.4x | 12.4x | 9.2x | |||
| $1.2B | $218M | 1.5x | 1.0x | 8.3x | 6.6x | |||
| $34M | $9M | 43.3x | - | 166.8x | - | |||
| $7.4B | $546M | 0.4x | 0.4x | 5.6x | 5.1x | |||
| $4.1B | $292M | 0.6x | 0.5x | 7.9x | 7.8x | |||
| $15B | $414M | 0.2x | 0.2x | 7.8x | 3.7x | |||
This data is available for Pro users. Sign up to see all Carzone competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Carzone
| When was Carzone founded? | Carzone was founded in 1995. |
| Where is Carzone headquartered? | Carzone is headquartered in Nanjing, China. |
| Is Carzone publicly listed? | No, Carzone is a private, VC-backed company. |
| What is Carzone's valuation? | Carzone was last valued at $1.5B in its Series D in September 2021. |
| How much funding has Carzone raised? | Carzone has raised $706M across 6 funding rounds. |
| What was Carzone's last funding round? | Carzone's last funding round was a $200M Series D in September 2021, led by Asia Investment Capital. |
| Who are Carzone's investors? | Carzone's investors include Co-Stone Venture Capital, Buhuo Ventures, YF Capital, CICC Alpha, Fude Capital, PAG, Goldman Sachs, Warburg Pincus, Alibaba Group, Goldman Sachs Growth Equity and 1 other. |
| Which companies are comparable to Carzone? | Companies comparable to Carzone include Goodyear, Sally Beauty Holdings, Snack Is Busy, NEXTAGE, Jiangsu Zenergy Battery and Bianlifeng. |
| How many companies has Carzone invested in? | Carzone has invested in 2 companies, including Car Cloud and F6 Automobile Technology. |
| What was Carzone's last investment? | In May 2017, Carzone invested in Car Cloud's $400K seed round. |
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