Dallas Based 5Miles Raises $30 million

Former Dallas New Tech presenter and Craigslist alternative 5Miles has raised $30 million from Dallas and Chinese investors. The news comes on the heels of $330 million in recent exits, solidifying the strength of the Dallas-Fort Worth startup economy.

“The app averages 30,000 downloads a day, and the company estimates its users sold about $1 billion in secondhand goods last year. More than 500 cars are sold on 5miles daily, [chief financial officer] Chan said. “We believe we’re one of the most active sellers of cars online.”

Congratulations to Lucas Lu and the team at 5Miles!

Read more at Dallas News. Photo courtesy of Jeeper’s Media.

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