UTour boards Qyer in $60m series D

Jan 7, 2016 • Thierry Heles

Travel agency UTour has led a fourth funding round for the Alibaba-backed travel and tourism website by purchasing both new and existing shares.

China-based travel website Qyer has raised $60m in a series D round led by travel agency UTour International Travel Service, China Money Network reported yesterday.

UTour invested $25m in return for a 5.5% stake, acquiring both newly issued and existing shares. SIG Asia Investments, the regional investment arm of quantitative trading firm Susquehanna International Group, and an unnamed investor also participated in the round.

The stake held by e-commerce firm Alibaba, which led Qyer’s $10m series B round in…

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