China's dominant car-hailing app firm Didi Kuaidi raises US$2b

Beijing

CHINA'S dominant mobile car-ride hailing company Didi Kuaidi said it raised US$2 billion in a fundraising round as competition with US rival Uber Technologies Inc heats up on its home turf.

Didi Kuaidi, which has the largest market share of car-hailing apps in China, said in a statement on Wednesday that the funding amount may rise by another "few hundred million" due to what it said was tremendous interest from global investors.