China based retail and finance platform for the auto industry SouChe has raised a $335m Series E led by Alibaba and Warburg Pincus.
SouChe has already enabled new car and used car dealers to go digital by providing them with its unique SaaS systems, which have connected over 110,000 car dealerships in China, or over 60% of the market. Our platform booked transaction value of RMB60 billion in 2016, and RMB91.5 billion in the first 9 months of 2017. The projected transaction value booked in 2017 will be approximately RMB150 billion. By collaborating with Ant Financial and Alibaba Group in offline channels, online e-commerce and data-based risk control, SouChe is on the fast track towards building a comprehensive ecosystem of new retail and new finance for the automotive industry."