Chinese peer-to-peer car rental service Baojia has raised $5 million from undisclosed angel investors.
The Beijing-based company enables car owners in the city to rent their cars for a fee to fellow commuters. Users can rent cars on a long term basis as well.
In addition to the desktop version, the service is also available on iOS and Android platforms.
According to a report by Beijing Bureau of Statistics in 2013, the city has about 5.2 million cars.
And, on average, the daily driving time per vehicle is no longer than two hours, with the distance per vehicle over the same period not exceeding 50 kilometers, according to a survey included in the company's funding announcement.
Founded in March 2014 by Li Rubin and Yinming Ren, the company has over 1,000 cars in the system.
Currently, the service is available only in Beijing, but the company has plans to expand to 16 cities in China including Shanghai, Shenzhen, Canton, Chengdu, Hangzhou, and Nanjing.
Competitors of Baojia in China include PPZuche (the Chinese brand of Singapore-based iCarsClub), Huiche, and ride sharing companies such as Wodache, and Pickride.