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- Shouqi Car Rental
Shouqi Car Rental Funding, Investors & Competitors
Shouqi Car Rental has raised $581M across 3 funding rounds, most recently a $311M undisclosed-stage round in December 2016.
Last Shouqi Car Rental funding round
$311M
Undisclosed stage · Dec 2016
Cumulative funding Shouqi Car Rental raised
$581M
across 3 funding rounds
Key investors in Shouqi Car Rental
CCB International
Taikang Asset
Shouqi Group
TiAN
About Shouqi Car Rental
Shouqi Car Rental is a Beijing-based car rental subsidiary of Shouqi Group, operating over 1,000 service outlets across China. The company offers short- and long-term rentals of sedans, SUVs, luxury vehicles, and commercial fleets for business and leisure travel. Integrated with ride-hailing and chauffeur services, it serves corporate clients and tourists through partnerships with airports and hotels nationwide.
Founded
1992
HQ
Website
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Usage-based
Sectors
Shouqi Car Rental Funding History
Shouqi Car Rental has raised a total of $581M across 3 funding rounds.
Shouqi Car Rental's first fundraising round was a $150M undisclosed-stage round in January 2015. The most recent completed round was a $311M undisclosed-stage round in December 2016.
Shouqi Car Rental funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2016 | Undisclosed stage | Taikang Asset (lead); CCB International; TiAN | $311M | Shouqi Car Rental, a Chinese car rental company, completed a Series B funding round of $308.9M on December 28, 2016, with investors including CCB International, Taiping Financial Holdings (Taikang Asset/Taiping Assets Management), Tianan Property Insurance, and Zimu Fund. This followed a prior $120M round in November 2015 led by Jiashi Fund Management and an earlier $150M round from Beijing Tourism. The total funding raised across two rounds reached $428.9M. Taikang Asset, the investment arm of China Taiping Insurance Group, led this RMB2.15 billion (US$309M) investment. |
| Nov 2015 | Undisclosed stage | - | $120M | Shouqi Car Rental, a Beijing-based subsidiary of Shouqi Group founded in 1992, operates as one of China's third-largest car rental fleets with 18,000 cars across 230 service stations in 56 cities. It provides short-term and long-term car leasing, mobile app-based chauffeured rides, carpooling, and innovative timeshare electric car rentals via iZuChe.com and apps. The company received USD 150 million in early 2015 startup funding from Beijing Tourism Group and parent Shouqi Group, followed by a USD 120 million round in November 2015 led by Jiashi Fund Management (also reported as Harvest Fund), accelerating expansion into commuting services and internet platforms for mid- to high-end drivers. Post-November 2015, Shouqi acquired a 40% stake in Reo Car Rental to strengthen its South China presence, particularly in Guangzhou and Shenzhen amid car purchase restrictions. In December 2016, it raised approximately USD 309 million (RMB 2.15 billion) in a Series B round led by Taiping Assets Management, with participants including Tianan Property Insurance, CCB International, and Zimu Fund; proceeds funded fleet expansion, marketing, and technology upgrades. Later developments include a Baidu-led investment of USD 105 million, bringing cumulative funding to at least USD 230 million (1.5 billion yuan) by 2017, alongside tech partnerships for driverless cars and electric vehicles. Shouqi operated in 53 cities with over 60,000 cars and 20 million users (2.4 million active) by then, focusing on high-end chauffeur services with owned, locally registered fleets to comply with ride-hailing regulations. It secured a nationwide online car rental license in February 2017, positioning it as the second such operator in China. |
| Jan 2015 | Undisclosed stage | Shouqi Group (lead) | $150M | Shouqi Car Rental, a subsidiary of state-owned Shouqi Group founded in 1992, provides car rental, leasing, chauffeured ride, and carpool services through iZuChe.com and mobile apps, operating as China's third-largest car rental fleet with 18,000 cars across 230 service stations in 56 cities as of 2015. It targets mid- to high-end drivers and offers innovative services like timeshare electric car rentals, while also serving government and commercial sectors with fleet management. In early 2015, Shouqi Car Rental secured USD 150 million in startup funding from Beijing Tourism Group and parent Shouqi Group, enabling rapid network expansion. This was followed by a USD 120 million round in November 2015 led by Jiashi Fund Management (also referenced as Harvest Fund), accelerating growth in commuting services and digital platforms. Subsequent rounds included a Series B of approximately USD 309 million (RMB 2.15 billion) in late 2016 led by Taiping Assets Management with participants like CCB International and Tianan Property Insurance, totaling over USD 428 million raised across rounds, used for fleet expansion, marketing, and technology upgrades. The company expanded strategically by acquiring a 40% stake in Reo Car Rental, South China's largest regional player, to bolster presence in Guangdong amid car purchase restrictions in Guangzhou and Shenzhen. Partnerships like with Volkswagen Group China aimed at sustainable mobility and car-sharing. By 2017, related entity Shouqi Limousine & Chauffeur (also under Shouqi Group, founded 2015) had raised additional funds including USD 105 million from Baidu-led group, operating 60,000+ cars in 53 cities with 20 million users. |
Who has invested in Shouqi Car Rental?
4 investors have backed Shouqi Car Rental across its funding rounds, including CCB International, Taikang Asset, Shouqi Group and TiAN.
Lead investors include Taikang Asset and Shouqi Group.
Shouqi Car Rental Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Dec 2016 | ||
| 1 | Participant | Dec 2016 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialShouqi Car Rental Competitors
Shouqi Car Rental competitors include listed companies like Cintas, United Rentals, Ashtead Group and AerCap, and private ones like Mayer's Cars and Trucks and Outdoorsy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $11B | $3.1B | $79B | 7.1x | ||
| Publicly listed | $16B | $7.2B | $62B | 4.5x | ||
| Publicly listed | $11B | $4.5B | $30B | 3.9x | ||
| Publicly listed | $8.5B | $6.8B | $23B | 7.4x | ||
| Private | $1.9B | - | $7.9B | 4.2x | ||
| Private | $34M | - | $1.8B | 54.1x |
Shouqi Car Rental Public Comps
Shouqi Car Rental is still privately-owned, but its public comps include Cintas, United Rentals, Ashtead Group, AerCap, FTAI Aviation, U-Haul, Ayvens, Hotai Motor, Ryder and Tokyo Century.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $3.1B | 7.2x | 7.1x | 26.2x | 25.2x | |||
| $16B | $7.2B | 4.8x | 4.5x | 10.8x | 9.9x | |||
| $11B | $4.5B | 3.9x | 3.9x | 9.6x | 8.4x | |||
| $8.5B | $6.8B | 7.5x | 7.4x | 9.3x | 9.0x | |||
| $2.5B | $1.1B | 9.2x | 6.6x | 21.6x | 17.8x | |||
| $6B | $1.6B | 2.9x | 2.9x | 10.9x | 10.3x | |||
| $29B | $12B | 1.7x | 1.8x | 4.1x | 27.5x | |||
| $8.1B | $1.6B | 2.4x | - | 12.3x | - | |||
This data is available for Pro users. Sign up to see all Shouqi Car Rental competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Shouqi Car Rental
| When was Shouqi Car Rental founded? | Shouqi Car Rental was founded in 1992. |
| Where is Shouqi Car Rental headquartered? | Shouqi Car Rental is headquartered in Beijing, China. |
| Is Shouqi Car Rental publicly listed? | No, Shouqi Car Rental is a private, VC-backed company. |
| How much funding has Shouqi Car Rental raised? | Shouqi Car Rental has raised $581M across 3 funding rounds. |
| What was Shouqi Car Rental's last funding round? | Shouqi Car Rental's last funding round was a $311M undisclosed-stage round in December 2016, led by Taikang Asset. |
| Who are Shouqi Car Rental's investors? | Shouqi Car Rental's investors include CCB International, TiAN, Taikang Asset and Shouqi Group. |
| Which companies are comparable to Shouqi Car Rental? | Companies comparable to Shouqi Car Rental include Cintas, United Rentals, Ashtead Group, AerCap, Mayer's Cars and Trucks and Outdoorsy. |
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