RenRenChe Valuation, Funding & Investors
RenRenChe is valued at $500M as of August 2015.
Last RenRenChe valuation
$500M
Series C · Aug 2015
Last RenRenChe funding round
$300M
Series E · Apr 2018
Cumulative funding RenRenChe raised
$760M
across 6 funding rounds
Key investors in RenRenChe
Redpoint
Shunwei Capital
Ceyuan Ventures
Tencent
DiDi
Goldman Sachs
About RenRenChe
RenRenChe is a comprehensive vehicle trading platform in China that integrates used and new car transactions, financial services, and after-sales support. Established in April 2014 as the first C2C used car marketplace, it offers free door-to-door valuations, sales, and replacements for sellers while enforcing 249 quality testing standards through in-house appraisers and partnerships like the China Automobile Dealers Association. Buyers benefit from 14-day returns, one-year or 20,000-kilometer warranties on core components, and 200 million yuan insurance. In April 2018, the platform secured 300 million US dollars from investors including Goldman Sachs, Tencent, and Didi.
Founded
2014
HQ
BeijingWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$500M (Aug 2015)
RenRenChe Valuation
RenRenChe is currently valued at $500M, based on its Series C in August 2015.
The $85M round was led by Tencent, with participation from Redpoint, Shunwei Capital and Ceyuan Ventures.
RenRenChe's valuation has grown 3.3x from $150M at its Series A in June 2014 to $500M in August 2015, across 2 priced rounds.
RenRenChe valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2015 | Series C | $500M |
| Jun 2014 | Series A | $150M |
RenRenChe Funding History
RenRenChe has raised a total of $760M across 6 funding rounds.
RenRenChe's first fundraising round was a $5M Series A in June 2014. The most recent completed round was a $300M Series E in April 2018.
RenRenChe funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2018 | Series E | Goldman Sachs (lead); Tencent; DiDi | $300M | - | RenRenChe is a Chinese online used-car trading marketplace and auction platform. It completed a Series E funding round of $300M on April 26, 2018, led by Goldman Sachs with participation from DiDi and Tencent. This was part of total funding of $760M across 6 rounds, with prior rounds including a Corporate Minority in September 2017. RenRenChe operated in a competitive used-car sector against players like Guazi (Tencent-backed), Souche.com (Alibaba-backed unicorn), and Uxin (Nasdaq-listed). Later reports noted intense rivalry impacting its trajectory, with references to it as a former unicorn candidate by 2020. |
| Sep 2017 | Strategic investment | DiDi (lead) | $200M | - | RenRenChe is a Beijing-based online peer-to-peer used car trading platform operating as an e-commerce marketplace with listings across over 80 Chinese cities and more than 100,000 vehicles. It holds the third largest market share in China's online used car sector behind rivals Guazi and Youxin. Founded in 2014, the company facilitates direct sales between car owners and consumers, and as part of its expansion, it launched initiatives like a used car festival offering fast sales within three days. On September 25, 2017, Didi Chuxing made a strategic investment of $200 million in RenRenChe, bringing the company's total funding to approximately $360-460 million. Prior rounds included $85 million from Tencent in August 2015 at a $500 million valuation and $150 million in September 2016 from investors like HanFor Holdings, China Minsheng Investment, Redpoint Ventures, Shunwei Capital, and Ceyuan Ventures. Other backers include Redpoint, Tencent, and Shunwei Capital. Sources note the post-money valuation was not disclosed, though rough estimates suggested at least $700 million assuming no down round from the prior $500 million valuation. The investment enables integration of RenRenChe's services into Didi's app, providing access to over 400 million passengers and 17 million drivers to boost user acquisition and market edge. Didi plans collaboration on product development, R&D, technology, operations, and business planning, without overseas expansion via Didi's global partners. RenRenChe aims to become China's largest and most trustworthy auto trading platform, leveraging Didi's resources for word-of-mouth growth and competitive advantage. Post-investment, RenRenChe experienced rapid growth, with trading volume increasing at 40% continuously over the three months in Q4 2017, the fastest in the Chinese online auto trading sector. Didi later planned to purchase over one million second-hand vehicles from RenRenChe over three years to support its shift toward a heavy-asset model for future car-sharing, including deals with automakers for new energy vehicle systems. |
| Sep 2016 | Series D | China Minsheng Investment Group (lead); Prometheus Group (lead); Redpoint; Shunwei Capital; Neovision Capital; Ceyuan Ventures; Hanfor Holdings | $150M | - | RenRenChe was a vertical SaaS platform targeting independent used car dealers in China, offering inventory management, AI-powered pricing, digital retailing, and embedded financing to improve efficiency without disintermediating dealers. Revenue model included $500-2000/month SaaS fees and 50bps on facilitated financing, focusing initially on solving inventory pricing pain points. The company operated in the rapidly growing Chinese used car market, projected to surpass new car sales by 2020 amid 300+ million potential buyers. It failed due to a capital-intensive C2C operational model mismatch with unsustainable unit economics in used cars. The queried May 2016 funding round involved investors Ceyuan Ventures, China Minsheng Investment Group (co-lead), Hanfor Holdings, Neovision Capital, Prometheus Group (co-lead), Redpoint, and Shunwei Capital, with an approximate date of 05/09/2016 and a reported size around $150 million based on user query context. The used car trading sector was competitive, attracting players like Guazi.com, which raised $200M (potentially up to $250M) at over $1B valuation in March 2016 from related Ganji/58.com backers, planning expansion to 120 cities. Broader 2016 context shows Chinese used car platforms gaining traction, with Guazi reporting daily sales of 1,027 cars and RMB83.72M turnover on March 10, 2016 (turnover not revenue). RenRenChe ultimately failed, highlighting challenges in achieving scalable economics in China's used car market. |
| Aug 2015 | Series C | Tencent (lead); Redpoint; Shunwei Capital; Ceyuan Ventures | $85M | $500M | RenRenChe is a Beijing-based online marketplace for used cars founded in April 2014 by former Baidu employees, specializing in high-quality vehicles under six years old or with less than 100,000 km, inspected across 249 parts. It operates a C2C model charging a 3% commission per sale and expanded to 20 cities by July 2015, listing around 15,000 vehicles with monthly transaction volumes growing from 1,000 units in April to over 3,000 in July, targeting over 10,000 by year-end. In April 2015, RenRenChe raised $85 million in its Series C funding round led by Tencent, with participation from existing investors Redpoint Ventures, Ceyuan Ventures, and Shunwei Capital, at a post-money valuation of $500 million—more than triple the $150 million valuation of its $20 million Series B in September 2014. The investment, announced in early August 2015, followed initial talks with Baidu but prioritized Tencent's resources like mobile traffic, social features, and WeBank financing. Funds were allocated to nationwide expansion and new services including car maintenance, insurance, loans, and rentals. The round positioned RenRenChe amid intensifying competition in China's used car market, where 2014 sales exceeded 6 million units (up 16%) and were projected to hit 10 million in 2015 per Ministry of Commerce data. Rivals like Ganji.com, Alibaba, Cheyipai, Youxinpai, and Uxin secured investments from $75 million to $260 million. RenRenChe differentiated via internet-enabled efficiency in evaluations and transactions using portable devices and software, claiming 2-3x gains per process step and overall tens to hundreds of times higher effectiveness than traditional methods. |
| Dec 2014 | Series B | Ceyuan Ventures (lead); Shunwei Capital (lead) | $20M | - | - |
| Jun 2014 | Series A | Redpoint (lead) | $5M | $150M | RenRenChe is a China-based online used-car marketplace founded in April 2014 by former Baidu employees, operating a C2C virtual consignment platform that takes a 3% commission on transactions. It launched services in July 2014 in Beijing, Guangzhou, and Shenzhen, expanding to 20 cities with around 15,000 vehicles listed by mid-2015. In July 2015, it traded 3,000 cars at an average of 100,000 RMB per car. Redpoint Ventures provided $5 million in Series A funding in April 2014. Five months later, in September 2014, RenRenChe raised a $20 million Series B round from Ceyuan Ventures, Shunwei Ventures, and Redpoint at a $150 million valuation. The company continued raising capital, securing an $85 million Series C from Tencent in August 2015 at a $500 million valuation, followed by a $150 million Series D in September 2016 with Redpoint and others, bringing total funding to about $260 million at that point. |
Who has invested in RenRenChe?
10 investors have backed RenRenChe across its funding rounds, including Redpoint, Shunwei Capital, Ceyuan Ventures, Tencent, DiDi and Goldman Sachs.
Lead investors include Goldman Sachs, DiDi, China Minsheng Investment Group, Prometheus Group, Tencent and 3 other investors.
RenRenChe Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 San Francisco, CA | 3 | Lead | Jun 2014 | |
| Beijing | 3 | Lead | Dec 2014 | |
 Hong Kong | 3 | Lead | Dec 2014 | |
| Shenzhen | 2 | Lead | Aug 2015 | |
| Beijing | 2 | Lead | Sep 2017 | |
| Shanghai | 1 | Lead | Sep 2016 | |
| Raleigh, NC | 1 | Lead | Sep 2016 | |
| Shanghai | 1 | Participant | Sep 2016 | |
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Start Free TrialRenRenChe Competitors
RenRenChe competitors include listed companies like eDreams ODIGEO and trivago, and private ones like Wonolo, Zumper, Dingdang Kuaiyao and Casavo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $500M | - | |
| San Francisco, CA | Private | $5M | - | $500M | - | |
 Spain | Publicly listed | $770M | $161M | $517M | 1.1x | |
| Beijing | Private | - | - | $522M | - | |
 Germany | Publicly listed | $632M | $13M | $460M | 0.5x | |
 Milan | Private | $38M | - | $460M | 12.1x |
RenRenChe Public Comps
RenRenChe is still privately-owned, but its public comps include eDreams ODIGEO, Wirtualna Polska, trivago, Gloo, En, Nerdwallet, Hypoport, Maoyan Entertainment, Cars.com and Stitch Fix.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $770M | $161M | 1.1x | 1.1x | 5.4x | 5.3x | |||
| $585M | $102M | 1.4x | 1.3x | 8.1x | 5.6x | |||
| $632M | $13M | 0.5x | 0.5x | 24.3x | 10.9x | |||
| $95M | ($136M) | 5.0x | 3.0x | (3.5x) | (11.4x) | |||
| $380M | $45M | 0.7x | 0.8x | 6.2x | 5.5x | |||
| $837M | $112M | 0.6x | 0.6x | 4.7x | 3.6x | |||
| $694M | $78M | 0.8x | 0.8x | 6.9x | 6.8x | |||
| $691M | $124M | 0.1x | 0.1x | 0.7x | 1.0x | |||
This data is available for Pro users. Sign up to see all RenRenChe competitors and their valuation data. Start Free Trial | ||||||||
Common questions about RenRenChe
| When was RenRenChe founded? | RenRenChe was founded in 2014. |
| Where is RenRenChe headquartered? | RenRenChe is headquartered in Beijing, China. |
| Is RenRenChe publicly listed? | No, RenRenChe is a private, VC-backed company. |
| What is RenRenChe's valuation? | RenRenChe was last valued at $500M in its Series C in August 2015. |
| How much funding has RenRenChe raised? | RenRenChe has raised $760M across 6 funding rounds. |
| What was RenRenChe's last funding round? | RenRenChe's last funding round was a $300M Series E in April 2018, led by Goldman Sachs. |
| Who are RenRenChe's investors? | RenRenChe's investors include Redpoint, Shunwei Capital, Ceyuan Ventures, Tencent, DiDi, China Minsheng Investment Group, Prometheus Group, Neovision Capital, Goldman Sachs and Hanfor Holdings. |
| Which companies are comparable to RenRenChe? | Companies comparable to RenRenChe include Wonolo, Zumper, eDreams ODIGEO, Dingdang Kuaiyao, trivago and Casavo. |
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