Warburg Pincus leads $100 mln funding for Uber-like Chinese firm-Reuters

(Reuters) – Private equity firm Warburg Pincus LLC led a group of investors putting $100 million into eDaijia, which provides services in China similar to online ride-hailing service Uber.

Other investors in the financing round included venture capital firms Matrix Partners and Lightspeed China Partners, which had previously invested in eDaijia, Warburg Pincus and eDaijia said in an emailed statement on Tuesday.

eDaijia allows users to request designated drivers through its mobile app, making it a popular option when people go out drinking.

The company plans to use the funds to expand its daytime services, spread to 200 cities in China from 150 now and also move into overseas markets after recently debuting in South Korea, eDaijia added in the statement.