Wkzuche acquired tens of million yuan in Series A round of financing

Wkzuche, a full-time B2P car rental platform in China, has announced that it has acquired tens of million yuan in Series A round of financing led by BOJIANG CAPITAL, and jointly followed by Zhen Fund, King Fund, Buttonwood Fund, and private investor Zhou Weihong, in this May, with an aim to become the leading company in the industry of road trips.

Hu Xianhe, CEO at Wkzuche, believed the reason why the company could secure such a large amount of fund is China’s car rental market still holds great potential in the next 20 years, which will grow into a 10-million units market in only 10 years from 500,000 units currently. And besides car purchase, car rental will provide an alternative option for citizens’ commuting.

By now, Wkzuche has gathered more than 1000 car rental companies nationwide, with its services covering more than 150 Chinese cities. The company has also established cooperative partnerships with several OTA platforms (including Ctrip, Qunar and Tuniu), investment institutions (including Yixin Capital and Jianyuan Capital), auto manufacturers (including SAIC VW, BAIC VW, Audi, Volvo, GM and BJEV), credit platforms (including Zhima Credit, Kaola zhengxin, Pengyuan Credit) and insurance companies (PICC, Pingan, CPIC).

Wkzuche is devoted itself in providing a favorable environment for thousands of small-size car rental companies in China, and helping them expanding their service from off-line to on-line and improving user experience. Besides, the company will also provide an integrated value chain, including branding, risk control, cars, financing, insurance, maintenance and channels, to help car rental companies lowering cost, improving efficiency, and thus standing a better chance in an ever increasing market.