Shuma

Shuma (什马) is a Chinese company focused on transportation and mobility services for rural China, starting with electric two- and three-wheelers and later expanding into low-speed four-wheel new energy vehicles. Its model combined vehicle retail with embedded fintech: Shuma Finance built a rural lending and risk-control system serving tens of thousands of small mom-and-pop shops ("小B"), whose profitability underpinned its own . The company raised heavily in its early years — a tens-of-millions-USD Series A led by FreeS Fund, near-100-million-RMB B and B+ rounds led by Shunwei, Northern Light and ChinaEquity, and a 300 million RMB Series C in May 2018 co-led by Tongbanjie, China Growth Capital and Hanergy VC, with CEO Ning Rui pledging to expand from two- and three-wheelers into four-wheel NEVs for what he framed as better mobility for 800 million rural residents . In 2018 the group spun out Shuma Chuxing (什马出行), an S2B2C new-energy retail platform that raised a 10-million-USD-plus Pre-A led by listed materials company Tongcheng New Material just 66 days after founding , followed by a $20 million Series A in January 2019 from Korea's KTB Investment Group and FreeS Fund to build out a full NEV distribution chain targeting tier 3-6 markets . All of this material dates from 2017-2019, so elsewhere's corpus has no view on Shuma's more recent state.