Deals
SoftBank-Backed Car Trading Platform Is Said to Explore Funding Options
- Chehaoduo is looking to raise several hundred million dollars
- Equity fundraising, asset-backed securities among options
A Guazi guaranteed sales store.
Source: Chehaoduo Group
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China’s car trading platform Chehaoduo Group, backed by SoftBank Vision Fund, is exploring options to raise several hundred million dollars after auto sales took a hit in the coronavirus outbreak, according to people familiar with the matter.
The company is studying possibilities including equity fundraising and asset-backed securities issuance, said the people, who asked not to be identified as the discussions are private. The car platform is also considering seeking support from local government, one of the people said.