Kuaidi Dache Closes $700M Series D Financing

According to reports, Kuaidi Dache, a Hangzhou, China-based provider of a taxi-hailing app, closed a more than $700m Series D round of financing.

Alibaba and Tiger Global Management participated in the funding.

Established in 2012 by Joe Lee and Weixing Chen, Kuaidi Group provides a car-service app focusing on city-bound travel needs covering nearly 300 cities in China including Hong Kong. It currently operates 2 branded services: Kuaidi Taxi and Kuaidi ONE which provide taxi and chauffeured limo services respectively.



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