China’s Airbnb Copycat Raises $65M in New Funding

By FinSMEs

Beijing, China-based Airbnb equivalent has secured U.S.$65m Series C+ and Series D funding.

The round – which brought total funding to US150m – was led by BAI (Bertelsmann Asia Investments) and Joy Capital with participation from Capital Today, Morningside Ventures, and Magic Stone Alternative Investments.

The company intends to use the funds to increase its branding, product innovation, and service chain building efforts.

Founded in 2012 by Kelvin Chen Chi, CEO, is an online house sharing platform in China with 10 million active users and more than 100,000 listings in 301 cities across the country.
Headquartered in Beijing, Xiaozhu has operating centers set up in 16 cities in China.

First appeared at FinSMEs