Chinese media reports state the Tencent-backed bicycle rental service has secured $1bn in funding from undiclosed investors.
Mobike, a China-based bicycle rental platform backed by internet group Tencent, has raised $1bn in new funding from undisclosed investors, Caixin Global reported yesterday, citing undisclosed sources.
Founded in 2015, Mobike has built an app-based bicycle sharing business with more than 200 million registered users that allows users to pick up and leave a bike anywhere once they have been used. It now spans 200 cities across 13 countries, having launched in Paris on Wednesday.
Although China’s overstuffed bike rental…
