Chinese property portal raises more than USD 14 million

Written by Song Jingli Published on 

Housing is a key issue for Chinese citizens.

Beijing-based real estate information portal has closed its Series C1 round, collecting more than RMB 100 million (USD 14 million), 36Kr reported on Monday.

Investment company Zero2IPO and online marketing company BeiZeng Group led the round, while earlier investors Sequoia Capital China and Fosun RZ Capital also poured in cash.

Zhuge will use its new funds on R&D and expanding its services. The company, which was founded in 2016, now provides housing information for more than 1.6 million apartment complexes in 688 cities in China.

The platform claims that it has served more than 80 million individuals who have used it to buy or rent a house. It said it has also assisted more than 200,000 brokers in sealing deals.

In comparison, Beike, a competitor, said its coverage is in 100 Chinese cities, and that its platform has connected 170,000 brokers by December 2018.

In March, Beike received a USD 800 million investment from Tencent in its Series D round.

36Kr is KrASIA’s parent company.


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