(Reuters) - Chinese car-hailing app Didi Chuxing Technology Co has raised $7 billion in its latest fund raising effort, a source familiar with the matter said.

The funding round values the company at more than $25 billion, the Wall Street Journal reported earlier on Wednesday, citing people familiar with the matter.

In addition, Didi secured a $2.5 billion debt package from China Merchants Bank Co, the Journal said.

Didi closed a $4.5 billion fundraising round that included $1 billion from Apple Inc <AAPL.O> and $600 million from China Life Insurance Co Ltd <601628.SS>.

Didi and China Merchants Bank were not immediately available for comment.

(Reporting by Anya George Tharakan in Bengaluru and Liana B. Baker in San Francisco; Editing by Shounak Dasgupta)