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§ Private Profile · Hangzhou, Zhejiang, China
Souche is a technology company.
Souche develops an integrated ecosystem of operating systems and transaction services for automotive merchants. Platforms include DaFengChe for used car dealers, CheHang 168 for new car information, and CheYiPai for B2B used vehicle auctions. It also provides vehicle delivery and used car inspection, offering a digital toolkit.
Founded December 2012 by Mr. Yao Junhong, former CAR Inc. founding team member, Souche emerged to digitalize China's automotive retail. Junhong identified a critical need for technology to address dealership operational inefficiencies. This led to a platform empowering merchants and streamlining core processes.
Souche primarily serves automotive merchants across China. Its vision is to be a dedicated enabler, improving their operational efficiency and profitability. Through its evolving suite of industry-leading systems and services, Souche drives the digital transformation of the automotive retail landscape.
Souche has raised $1.1B across 5 funding rounds.
Souche has raised $1.1B in total across 5 funding rounds.
Souche has raised $1.1B in total across 5 funding rounds.
Souche's investors include 5Y Capital, Alibaba, CMB International, Primavera Capital Group, Warburg Pincus.
Souche has raised $1.1B across 5 funding rounds. Most recently, it raised $580.0M Series F in May 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2018 | $580M Series F | — | 5Y Capital | Announced |
| Oct 1, 2017 | $340M Series E | A Capital | 5Y Capital, CMB International, Primavera Capital Group, Warburg Pincus | Announced |
| Apr 7, 2017 | $180M Series D | Warburg Pincus | — | Announced |
| Aug 1, 2013 | $15M Series B | — | 5Y Capital | Announced |
| Dec 1, 2012 | $6M Series A | — | 5Y Capital | Announced |
Souche is a leading Chinese technology company specializing in automotive new retail, primarily providing SaaS solutions and integrated services for used car dealers and automotive merchants. It builds digital operating systems and platforms that streamline used car sales, financing, leasing, and logistics, serving small and medium-sized automotive businesses. Souche’s products solve the problem of inefficiency and fragmentation in China’s used car market by enabling centralized procurement, consistent quality control, and data-driven business intelligence, which has driven rapid adoption and growth, with over 60% of used car dealers in China using its platform by 2017[1][2][3].
Founded in 2012 by a team focused on digitizing the auto retail sector, Souche pioneered the S2b2c (Supplier to Business to Consumer) model in China’s auto industry. The idea emerged from the need to reduce inventory risk and operational costs for used car dealers by renting large parking lots and leveraging SaaS to digitize dealer workflows. Early milestones include launching the DaFengChe digital operating system in 2013 and attracting major investments from Alibaba, Ant Financial, and Warburg Pincus in 2017. Strategic acquisitions and partnerships with companies like Geely, Chery, and PingAn Bank have expanded its ecosystem and service offerings[1][3][4].
Souche rides the broader trend of digital transformation in China’s automotive retail sector, where market fragmentation and inefficiencies create demand for integrated technology solutions. The timing is favorable due to rising consumer acceptance of online car transactions, growth in used car sales, and increasing financial technology integration. Souche’s platform not only digitizes dealer operations but also influences the ecosystem by setting industry standards for quality control, financing, and logistics in used car retail[1][3].
Looking ahead, Souche is positioned to deepen its influence by expanding its digital retail network, enhancing financing and leasing products, and leveraging AI and big data for smarter inventory and pricing strategies. Trends such as the growth of new car leasing, digital financing, and direct-to-consumer sales will shape its evolution. As it continues to integrate more services and partners, Souche’s role as a technology enabler for China’s auto merchants is likely to strengthen, potentially setting a global benchmark for automotive new retail platforms[1][3][4].