Taiping Assets Management, investment arm of the China Taiping Insurance Group, has helped lead $309 million in funding for Shouqi Car Rental, according to the Deal Street Asia report.
Beijing-based Shouqi Car Rental will use its newest funding to expand its fleet and to improve its marketing and technology, says the report.
Founded in 1992, Shouqi Car Rental is known for its limousine fleet for Chinese political leaders and visiting dignitaries. The car rental company also provides short and long-term car leasing as well as a chauffeured ride and carpooling app with iZuChe.com.
Click here for the full Deal Street Asia report.