Yimaiche

About Yimaiche

Yimaiche, operating under the legal name Xiamen Yiche Times Information Technology Co., Ltd., is a Chinese automotive retail platform founded in 2015 by Bao Mulong. The company has established itself as a vehicle superstore with a strategic focus on serving customers in China's tier-three and lower-tier cities. Yimaiche functions as an online-to-offline (O2O) marketplace, creating a comprehensive service platform that connects consumers, brokers, and offline service points for new car transactions.

The firm's business model is designed to address the common issue of information asymmetry in the car buying process, tackling inconsistencies in price, service, and after-sales support. By leveraging technology, Yimaiche provides real-time information and streamlines the supply chain, which helps to reduce operational overhead and, consequently, lower vehicle prices for consumers. It operates as a channel distributor, selecting suitable cars based on customer needs and sourcing them directly from manufacturers, effectively acting as an intermediary. The platform boasts a vast network, sharing vehicle information from tens of thousands of upstream and downstream dealers and managing a large-scale vehicle procurement team. This allows for nationwide vehicle scheduling and delivery.

Since its inception, Yimaiche has secured significant financial backing from multiple investors. The company has progressed through several funding rounds, including a Series C in April 2021 that raised $70 million, bringing its total funding to over $100 million. This capital has supported its expansion to over 200 physical stores across China and its growth into a major seller on e-commerce platforms like Pinduoduo, where it has sold over 100,000 vehicles. The company offers a one-stop purchasing service, guaranteeing authentic new cars with nationwide price comparisons and original manufacturer after-sales service with a nationwide warranty.