- Companies
- Huasheng Haoche
Huasheng Haoche Valuation, Funding & Investors
Huasheng Haoche is valued at $1B as of October 2018.
Last Huasheng Haoche valuation
$1B
Series B · Oct 2018
Last Huasheng Haoche funding round
$91M
Undisclosed stage · Jan 2024
Cumulative funding Huasheng Haoche raised
$451M
across 3 funding rounds
Key investors in Huasheng Haoche
Goldman Sachs
Frees Fund
JD Digits
Crescent Point
China Minsheng Financial Holdings
About Huasheng Haoche
Huasheng Haoche is a Beijing-headquartered new retail platform for automobiles. Founded in 2015, it combines offline direct stores and online e-commerce to deliver one-stop services including car purchase guidance, affordable buying plans, financial products, maintenance, and lifestyle features under its cost-effective brand positioning.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$1B (Oct 2018)
Huasheng Haoche Valuation
Huasheng Haoche is currently valued at $1B, based on its Series B in October 2018.
The $210M round was led by Crescent Point, with participation from Frees Fund, Goldman Sachs and JD Digits.
Huasheng Haoche valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2018 | Series B | $1B |
Huasheng Haoche Funding History
Huasheng Haoche has raised a total of $451M across 3 funding rounds.
Huasheng Haoche's first fundraising round was a $150M strategic investment round in November 2017. The most recent completed round was a $91M undisclosed-stage round in January 2024.
Huasheng Haoche funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2024 | Undisclosed stage | - | $91M | - | Huasheng Haoche is a Chinese automotive new retail platform focused on third- to fifth-tier markets, operating over 600 direct-operated chain sales stores and 26 major central warehouses across more than 300 cities. The company employs a business model combining direct operation, direct leasing, and direct procurement to reshape car distribution and consumption in the new retail sector. On January 22, 2024, it raised 650 million yuan (approximately $91.8-92 million USD) in a new funding round led by local state-owned asset divisions, with participation from investors including Ningbo Entrepreneurs Industrial, Hubei Railway Development Fund, Changjiang Capital, and Hunan Hi-tech Investment Group. The funds are designated for expanding its sales network, accelerating new energy vehicle (NEV) store deployments, and optimizing information systems to drive innovation and market share growth. Huasheng Haoche, founded in 2018 and headquartered in Tianjin, has previously received investments from JD Digits, Goldman Sachs, and FreesFund. The platform provides integrated services for car purchases in installments and has formed strategic partnerships, such as with BYD in July for NEV leasing, product customization, sales channels, and user services, committing to purchase 5,000 BYD vehicles annually. This alliance targets lower-tier markets with tailored financing and leverages Huasheng Haoche's network covering over 200 cities in 28 provincial-level regions to enhance EV penetration through online and offline channels. The company aims to deepen channel construction and diversify automotive brand collaborations following the financing. |
| Oct 2018 | Series B | Crescent Point (lead); Frees Fund; Goldman Sachs; JD Digits | $210M | $1B | Huasheng Haoche is a Beijing-based automotive new retail platform established in 2015 that combines online e-commerce with offline direct-operated stores to facilitate vehicle sales and related services. The company employs a business model integrating direct operations, direct leasing, and direct procurement, targeting third to fifth-tier cities across China and serving the greater China market. In October 2018, Huasheng Haoche raised $210 million in a Series B funding round led by Crescent Point and participated by investors including Goldman Sachs and other institutional investors. The funds were designated for expanding the company's sales network, accelerating new energy vehicle store deployment, and upgrading information systems. By the time of later financing announcements, the company had grown to operate over 600 direct-operated chain sales stores and 26 major central warehouses nationwide, with presence in more than 300 cities, demonstrating significant market penetration in China's automotive retail sector. |
| Nov 2017 | Strategic investment | China Minsheng Financial Holdings (lead) | $150M | - | Huasheng Haoche is a Beijing-based car transaction platform founded in May 2015 that provides integrated services for new car sales and auto financing. The company operates a one-stop service platform covering pre- and after-sales activities, combining e-commerce and mobile applications with over 200 direct-sales stores nationwide and a proprietary logistics network of 15 central warehouses across major Chinese cities. On November 9–10, 2017, Huasheng Haoche signed a CNY1-billion (USD150-million) deal with Minsheng Financial Leasing Co., a subsidiary of China Minsheng Banking Corp., to expand new car sales and auto finance operations. The partnership strengthened Huasheng Haoche's financial channels, reduced operational costs, and enhanced financial product offerings according to the company's co-founder Chen Pengyun. Minsheng Financial Leasing, founded in 2008, managed assets valued at over CNY180 billion (USD27.1 billion) and is controlled by China Minsheng Banking Corp., a publicly listed financial institution. |
Who has invested in Huasheng Haoche?
5 investors have backed Huasheng Haoche across its funding rounds, including Goldman Sachs, Frees Fund, JD Digits, Crescent Point and China Minsheng Financial Holdings.
Lead investors include Crescent Point and China Minsheng Financial Holdings.
Huasheng Haoche Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Oct 2018 | ||
| 1 | Lead | Oct 2018 | ||
| 1 | Lead | Nov 2017 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialHuasheng Haoche Competitors
Huasheng Haoche competitors include listed companies like Grupa Pracuj and LegalZoom, and private ones like DocPlanner, Fresha, Iwjw and Movile.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $214M | $95M | $1B | 4.4x | ||
| Publicly listed | $756M | $74M | $1B | 1.1x |
Huasheng Haoche Public Comps
Huasheng Haoche is still privately-owned, but its public comps include SMZDM.com, QuinStreet, Grupa Pracuj, Ibotta, LegalZoom, Nextdoor, Tripadvisor, Upwork, Web Travel Group and Baltic Classifieds Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $192M | $19M | 4.9x | 4.7x | 47.8x | 42.1x | |||
| $1.3B | $61M | 0.7x | 0.7x | 15.8x | 7.9x | |||
| $214M | $95M | 4.6x | 4.4x | 10.3x | 9.7x | |||
| $342M | $7M | 2.5x | 2.4x | 114.9x | 15.3x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $258M | ($69M) | 2.4x | 2.2x | (8.8x) | 27.8x | |||
| $1.9B | $160M | 0.6x | 0.6x | 6.8x | 4.2x | |||
| $788M | $180M | 1.0x | 1.1x | 4.6x | 3.6x | |||
This data is available for Pro users. Sign up to see all Huasheng Haoche competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Huasheng Haoche
| When was Huasheng Haoche founded? | Huasheng Haoche was founded in 2015. |
| Where is Huasheng Haoche headquartered? | Huasheng Haoche is headquartered in Beijing, China. |
| Is Huasheng Haoche publicly listed? | No, Huasheng Haoche is a private, VC-backed company. |
| What is Huasheng Haoche's valuation? | Huasheng Haoche was last valued at $1B in its Series B in October 2018. |
| How much funding has Huasheng Haoche raised? | Huasheng Haoche has raised $451M across 3 funding rounds. |
| What was Huasheng Haoche's last funding round? | Huasheng Haoche's last funding round was a $91M undisclosed-stage round in January 2024. |
| Who are Huasheng Haoche's investors? | Huasheng Haoche's investors include Frees Fund, Crescent Point, China Minsheng Financial Holdings, Goldman Sachs and JD Digits. |
| Which companies are comparable to Huasheng Haoche? | Companies comparable to Huasheng Haoche include DocPlanner, Fresha, Iwjw, Movile, Grupa Pracuj and LegalZoom. |
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