# Beijing Shanyi Shanmei Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beijing-shanyi-shanmei-technology-co

- Industry: Retail
- Headquarters: Beijing, China
- Website: www.renrenche.com
- Total disclosed funding: $560M
- Latest round: Series E (Apr 26, 2018)
- Investors on record: 10

## About

Beijing Shanyi Shanmei Technology Co., Ltd. operates an automotive marketplace, specializing in facilitating vehicle sales and purchases through a user-friendly platform that connects buyers and sellers of used cars.Founded in 2014, Beijing Shanyi Shanmei Technology Co., Ltd. is based in Beijing, China, and focuses on the automotive marketplace. The company has successfully completed six deals as of April 26, 2018, with its latest funding round being a Series E, raising USD 300.00 mn led by Goldman Sachs Merchant Banking Division alongside investors such as Didi Chuxing and Tencent Investment.The core offerings of the company revolve around the automotive marketplace, focusing on facilitating vehicle sales and purchases. This includes a comprehensive platform where users can search for a variety of vehicles, such as sedans and SUVs, from well-known brands, including Volkswagen, Toyota, and Honda. The platform primarily caters to consumers looking to buy or sell used cars, aiming to streamline the process by providing essential information such as vehicle age, mileage, engine displacement, and transmission types. The end users of this service encompass individual car buyers and sellers, as well as dealerships in various regions. The company operates in multiple geographical markets, catering to urban centers where demand for used vehicles is robust and the need for accessible automotive transactions is high.Revenue generation for the company is structured around transaction fees collected from vehicle sales facilitated through its platform. Clients—comprised of individual sellers and potential buyers—engage in direct transactions, with the company earning a commission on each successful sale. This B2C model enhances the user experience by providing a straightforward approach to buying and selling cars without the traditional dealership overhead. The structure includes additional services that may be offered as part of the sales process, enhancing the overall value proposition for users. The flagship offerings include access to detailed listings and the ability to filter searches based on various criteria, ensuring a tailored experience for consumers in the automotive market.In April 2018, Beijing Shanyi Shanmei Technology Co., Ltd. raised USD 300.00 mn in Series E funding led by Goldman Sachs, which will be utilized to support the development of new products and expand into new geographic markets. The company is focused on enhancing its platform to better serve urban centers where demand for used vehicles is high. Specific future initiatives are expected to include improvements in user experience and possibly expanding its operations into additional cities in China by 2020.

## Funding rounds

- Series E, Apr 26, 2018, $300M — Goldman Sachs Asset Management, Tencent Investment, Didi Chuxing
- Series D, Sep 5, 2016, $150M — Redpoint Ventures, Ceyuan Ventures, Tencent Investment, Shunwei Capital, Hanfor Capital, Prometheus Capital, China Minsheng Investment Group, Neovision Capital
- Series C, Aug 3, 2015, $85M — Redpoint Ventures, Ceyuan Ventures, Tencent Investment, Shunwei Capital
- Series B, Dec 26, 2014, $20M — Redpoint Ventures, Ceyuan Ventures, Shunwei Capital
- Series A, Apr 1, 2014, $5M — Redpoint Ventures

## Investors

- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series A, Series B, Series C, Series D
- Ceyuan Ventures (https://capitalatlas.ai/funds/ceyuan-ventures) — Series B, Series C, Series D
- Shunwei Capital (https://capitalatlas.ai/funds/shunwei-capital) — Series B, Series C, Series D
- Tencent Investment — Series C, Series D, Series E
- Hanfor Capital (https://capitalatlas.ai/funds/hanfor-capital) — Series D
- Prometheus Capital (https://capitalatlas.ai/funds/prometheus-capital) — Series D
- China Minsheng Investment Group (https://capitalatlas.ai/funds/china-minsheng-investment-group) — Series D
- Neovision Capital (https://capitalatlas.ai/funds/neovision-capital) — Series D
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series E
- Didi Chuxing — Series E