China’s Didi Chuxing raises $7 billion in new funding: WSJ

Logo of Didi Chuxing is seen at its headquarters in BeijingThomson Reuters

(Reuters) – Chinese car-hailing app Didi Chuxing Technology Co has raised $7 billion in its latest fund raising effort, the Wall Street Journal reported, citing people familiar with the matter.

Didi closed a $4.5 billion fundraising round that attracted $1 billion from Apple and $600 million from China Life Insurance Co Ltd , according to the WSJ report on Wednesday.

The funding round valued the company at more than $25 billion, WSJ reported. (http://on.wsj.com/28Ed9Sz)

In addition, Didi secured a $2.5 billion debt package from China Merchants Bank Co, the Journal said.

Didi and China Merchants Bank Co were not immediately available for comment.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Shounak Dasgupta)