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Cao Cao raises USD589 million funding, China [free access]

September 10, 2021

Geely’s ride-hailing platform Cao Cao has raised CNY3.8 billion (USD589 million) in funding to upgrade its technology and expand its fleet. Suzhou Xiangcheng Financial Holding Group, an investment company backed by the Xiangcheng district government of Suzhou, led the round along with Suzhou High-Speed Rail New City Group, Suzhou Urban Investment Company, ABCI Suzhou Company, and Suzhou Innovation Capital.

 

Currently, Cao Cao is operational in 62 Chinese cities and has 60 million registered users.

 

(1 Chinese Yuan [CNY] = 0.15 USD)