Ride-hailing service Didi Chuxing is seeking to raise funds, and the total could be more than the $3.5 billion just raised by U.S.-based rival Uber, tech.163.com said on Thursday, quoting Didi Chuxing President Liu Qing.
Uber said on Wednesday it raised $3.5 billion from Saudi Arabia's sovereign wealth fund, gaining a crucial partner in its expansion into the Middle East.
The investment from the Saudi Arabian Public Investment Fund was part of Uber's most recent financing round that valued the company at $62.5 billion, Uber said, making it the most highly valued venture capital-backed company in the world.
Uber will use some of the new funds in growth markets including China, where the company is in fierce competition with market leader Didi Chuxing, which is backed by Internet giants Alibaba Group Holding and Tencent Holdings.
Apple Inc said in May it invested $1 billion in Didi Chuxing.
