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On the evening of September 23, according to LatePost reports, three independent sources reported that T3 Travel was about to complete the latest round of financing, of which the equity financing exceeded 5 billion yuan. CITIC Group led the investment and the old shareholders followed the investment; in addition, T3 travel also received a credit line of over 2 billion yuan.
Yiou asked the insiders of T3 Travel about this news and got a positive response.
This is the second round of financing since the establishment of T3 Travel. According to reports, two people familiar with the matter said that investment institutions were enthusiastic about this round of financing, and "the scale of funds issued by the institution for TS (letter of intent) has reached tens of billions."
T3 Travel is a smart travel service platform launched in July 2019. It is affiliated to Nanjing Leading Technology Co., Ltd. and was jointly initiated and established by three state-owned automakers: FAW, Dongfeng, and Changan.
According to Yiou data, T3 Travel completed an angel round of financing of 5 billion yuan in April 2019. Investors include Alibaba, Hexi Capital, Rongxun Assets, FAW Group, Tencent Investment, Changan Automobile, Segaly Assets, Dongfeng Motor, FAW Innovation and Development Fund, Suning Holdings.
With the removal of the full range of Didi Chuxing apps in early July, other online ride-hailing platforms are expanding their market shares. According to LatePost, the average daily order volume of T3 trips in August was about 1.2 million to 1.5 million, which was an increase from the 700,000 to 800,000 orders at the end of last year. In August, the average daily order volume of Didi was about 20 million, Gaode was about 5 million, and Meituan was about 1.2 million.
On August 6, T3 Travel announced the launch of the "Puwei Project", an exclusive care program for drivers. The plan is composed of triple guarantees, dedicated driver lines, welfare care, and exclusive services, and will gradually be implemented in terms of salary policies, holiday care, driver growth, and offline services.
