Guazi Enterprise Consulting Service Co., Ltd. has experienced rapid growth since its founding and quickly caught the eye of the capital market. In its early days, it secured investments from top-tier institutions such as Sequoia Capital and Matrix Partners China. In March 2016, it completed a $204.5 million Series A financing, and in September of the same year, it raised an additional $250 million in another Series A round, setting a new record for the largest single financing in the used car e-commerce sector. In June 2017, it secured over $400 million in Series B funding. In October 2017, it rebranded as CheHaoDuo Group and closed a nearly $600 million Series B extension. In March 2018, it raised $800 million in Series C financing.
Fueled by multiple rounds of financing, Guazi has continuously expanded its operations. Its services now cover more than 200 major cities across China, serving over one million customers cumulatively, with an annual transaction volume exceeding 700,000 vehicles.
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