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58.com's Enterprise-focused O2O Service Platform '58 Qifu' Secures Pre-A Funding

iYiou, 8/07/17

Enterprise-focused O2O service platform 58 Qifu, which was spun off from Chinese online classifieds site 58.com's (NYSE: WUBA) online and mobile O2O local services platform 58 Home ("58 Daojia"), has completed an undisclosed amount of pre-Series A funding at a post-money valuation of nearly USD 100 mln.

58 Qifu, which operates via its website and official account on Tencent's (0700.HK) WeChat mobile messaging app, leverages the resources of 58 Home and 58.com to provide enterprises with a variety of services, such as cleaning, security, and company meals.

58 Qifu currently has thousands of clients in dozens of industries, covering internet, finance, real estate, and chain stores. 58 Qifu has also established strategic partnerships with firms such as office rental co-working community URwork to provide customized company dining services for clients.

The current funding will primarily be used for the construction of a technology R&D center and product operations center. 58 Qifu has three regional companies in Chengdu, Dalian, and Changchun, and provides services in cities including Shanghai, Guangzhou, Shenzhen, Hangzhou, Changsha, and Wuhan.

58 Home established 58 Qifu in December 2016 with the assistance of Asia-Pacific Commercial Real Estate Academy and Fengyun Venture Capital.

Keywords: corporate user local life 58 Qifu valuation Internet funding 58.com 58 Home WUBA O2O angel funding

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