Hellobike is talks to raise $400m in an Ant Financial-led round that could increase the bicycle rental platform's valuation to $5bn.
China-based bicycle rental service Hellobike is in talks to raise $400m in a funding round led by Ant Financial, the financial services affiliate of e-commerce firm Alibaba, TechNode has reported.
The other investors in the round have not been disclosed but it is expected to value the company at approximately $5bn, TechNode said, citing Chinese media reports. It was reported in March this year to be looking to raise up to $1bn in its next round.
Hellobike provides a…
