Shima Chuxing

Shima Chuxing (什马出行) is a new-energy vehicle (NEV) industry internet platform focused on China's lower-tier markets, originally incubated within Shima Group, a company dedicated to rural transportation and vehicle finance. Per a 2018 FreeS Fund profile, its parent Shima Financial had since 2015 built a network of 50,000+ county and township-level outlets covering 31 provinces, with cumulative transaction volume nearing RMB 10 billion in vehicle financing . Shima Chuxing itself launched as an S2B2C new retail transaction service for NEVs, raising over $10 million in a Pre-A round in 2018 led by A-share listed Tongcheng New Materials, followed by a $20 million Series A in January 2019 from Korea's KTB Investment Group and FreeS Fund . FreeS Fund, which invested in and followed on to Shima Chuxing, described its edge as "first-mover advantage in tier 3-6 city layout" combined with the policy-driven transition from fuel to new-energy vehicles . By 2020, Shima Chuxing had formed a joint venture with a Fortune 500 state-owned enterprise and completed a new financing round .