SoftBank reportedly invested $1bn in the online real estate brokerage as part of a $2.41bn round also featuring Tencent at a valuation of more than $14bn.
China-based real estate platform operator Beike Zhaofang has secured approximately $2.41bn in a series D-plus round that included telecommunications and internet conglomerate SoftBank and internet group Tencent, DealStreetAsia reported today.
Hedge fund manager Hillhouse Capital and venture capital firm Sequoia Capital China also contributed to the round, which closed in November 2019. SoftBank invested $1bn according to the Wall Street Journal, and the round valued Beike at just over $14bn.
Also known as Ke.com, Beike runs an online platform where users can access apartments for rent that spanned almost 100 Chinese cities as of July 2019.
Beike also offers services such as interior decoration, property management and real estate financing, both through the platform and a network of 250,000 brick-and-mortar estate agents and 30,000 offline retailers.
The cash will be invested in developing industrial internet technology and increasing headcount. Beike was reported in December 2019 to be considering launching…
