Online car rental and ride-booking service Yongche has yet more venture capital money to aid in its expansion across China. Today the company, which is now operating in 49 cities across the country, announced $60 million in series C funding. The investment cash comes from DCM and online travel booking company Ctrip (NASDAQ:CTRP).
QQ Tech reports that Yongche aims to be available in 100 cities next year, both in China and overseas, but no further details are given.
Yongche attracted about $10 million in VC funding in August 2011, and then around $15 million earlier this year, which was aimed at boosting the taxi-booking app up against a host of local rivals such as Didi DaChe and Kuaidi DaChe.
(Editing by Josh Horiwtz)