Ridesharing Apps

China's Didi Chuxing Raises $7 Billion in New Funding

China's Didi Chuxing Raises $7 Billion in New Funding
Image credit: Reuters | Kim Kyoung Hoon
Chinese car-hailing app Didi Chuxing Technology Co. logo
1 min read
This story originally appeared on Reuters

Chinese car-hailing app Didi Chuxing Technology Co. has raised $7 billion in its latest fund raising effort, the Wall Street Journal reported, citing people familiar with the matter.

Didi closed a $4.5 billion fundraising round that attracted $1 billion from Apple and $600 million from China Life Insurance Co. Ltd., according to the WSJ report on Wednesday.

The funding round valued the company at more than $25 billion, WSJ reported.

In addition, Didi secured a $2.5 billion debt package from China Merchants Bank Co., the Journal said.

Didi and China Merchants Bank Co were not immediately available for comment.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Shounak Dasgupta)

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.