Rumor: Long-term Apartment Rental Platform Mofang Wins USD 300 Mln Series C
36Kr.com, 4/07/16
Shanghai-based Mofang Apartment Management, operator of online and mobile long-term apartment rental platforms Mofang Apartment and Mofang Life, has reportedly completed USD 300 mln Series C funding led by AVIC Trust, valuing the company at over USD 1 bln.
Mofang offers users rental booking services for its offline apartments through a website and its Mofang Life mobile app. The company oversees and offers property management services for all of the apartments that it offers through the platform. According to official company data, Mofang currently operates in 10 large and medium-sized Chinese cities and has 100 offline apartment complexes, with a total of approximately 10,000 apartment units and nearly 20,000 tenants. The company plans to add an additional 200 properties by the end of 2016.
Mofang, established in August 2013, completed USD 200 mln Series B funding in May 2015.
Editor's Note: For more information on this topic, please see "Online Long-term Apartment Rental Platform Mofang Wins USD 200 Mln Funding,"MD 5/21/15 issue.
Keywords: VC online real estate Internet funding Series C Mofang Apartment Management AVIC Trust valuation Mofang Life Mofang Apartment
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