Haoqipei, a Shangai, China-based Business-to-business (B2B) auto parts trading platform, closed US $60m in Series D financing.
The round was led by Access Technology Ventures, with participation from existing investors XVC Venture Capital, Jeneration Capital, DCM and SIG.
In conjunction with the funding, David Yang joined the Haoqipei Board of Directors.
The company, which has now having raised more than US $150m in private capital, intends to use the funds to continue its rapid growth across China.
Founded in 2016 by Chen “Alex” Xi, founder and CEO, Haoqipei is an online, technology-driven trading platform connecting vehicle repair shops with auto part suppliers. The company provides market price comparisons and online payments through its software as a service (SaaS) system, and offline warehousing and logistics services.
It has a presence in more than 100 cities in Guangdong, Zhejiang, Hunan and other provinces.