|Venture Round, 2/2014 |
CITIC Capital Holdings
Cheyipai is the leading domestic second-hand car trading platform in China. The cars on the platform are sold to overall 163 cities countrywide. There are around 100,000 used car dealers in China and Cheyipai has established cooperation with 6% of the total. The company planned to partner up with 10% of the car dealers in 2014.
Cheyipai has created a normalized used car detection and valuation system, 268V, that charges used car valuation fees from sellers, and transaction-based and other commissions from buyers. A percentage of commissions go to its 4S store partners.