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December 28, 2017

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Hellobike raises US$153m

SHANGHAI Junzheng Network Technology Co, which owns the Hellobike brand, said yesterday that it has raised 1 billion yuan (US$153 million) in the latest round of financing, which makes it the third-biggest bike-sharing company in China. 

The latest fundraising followed Hellobike’s previous round of financing of US$350 million on December 4  from investors, including Alibaba’s Ant Financial. 

The company has raised a total of just over US$500 million this month. 

The 1 billion yuan financing was led by Fosun Capital and GGV, among other investors.

Hellobike will be integrated with Fosun’s business covering Big Data, the Internet of Things, tourism, real estate and other sectors, according to the company’s statement yesterday.

The investment represents heated competition among bike-sharing firms in China, which has seen smaller players close down.

Hellobike, which has 88 million users and processes 10 million daily users, offers services in third and fourth-tier cities and scenic areas, according to analysts.


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