The money provided by the Chinese insurer includes $300 million in equity financing and $305 million (2 billion yuan) in long-term debt. The investment is made through China Life Investment Holding Co Ltd, Didi said in a statement. Chinese car-hailing app Didi confirmed on Monday that it had secured $600 million from China Life Insurance, part of its ongoing financing round that its president says will exceed $3.5 billion. According to Didi, its ODM platform has mobilised 15 million drivers to deliver rides for 300 million registered users, with daily orders over 14 million. Didi said it will also work with China Life on insurance and other financial services and corporate car services.

Source: dna June 13, 2016 14:37 UTC