China's automobile apps continue to attract investment

Huasheng Haoche bagged $210 million from the likes of JD Finance as the internet-based startup places more emphasis on building a network of physical stores.

Chinese automobile trading companies are undoubtedly the centre of attention for both public and private investors this year as they pour billions of dollars into the sector.

The investment frenzy is proven once again on Wednesday with another fundraising from Huasheng Haoche, an auto trading and financing startup.

The three-year-old company said it raised $210 million in its series B round of financing led by private equity firm Crescent Point Group. Goldman Sachs also invested alongside existing investors JD Finance and Frees Fund.

Wednesday’s fundraising extended the long list of deals already completed over the last 12 months as investors made big bets into...

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