Capital Group and Ping An Ventures Participate in a US$2 Billion Round for Didi Kuaidi (Asia)

Source: The Wall Street Journal  |  Author(s): Rick Carew, Mia Lamar

China-based Didi Kuaidi, a taxi-hailing app operator, has raised a US$2 billion financing round from a group of investors that included global private equity firm Capital Group Private Markets and the venture capital arm of China-based Ping An Insurance, Ping An Ventures. Capital Group invested around US$350 million in the round. The latest funding round values the company at a reported US$15 billion. Didi Kuaidi intends to use the capital to develop new services, upgrade its platform technology and fund research in data sciences.