58.com and its 58 Aifang subsidiary invested $70.5m and will help the online real estate marketplace expand its services and grow throughout southwestern China.

China-based online estate agent Daojiale has received RMB500m ($70.5m) in funding from classified listings operator 58.com and its real estate listings subsidiary, 58 Aifang, DealStreetAsia reported yesterday.

Founded in 2016, Daojiale runs an online platform that enables users to list residential and commercial real estate for sale in Chongqing, a municipality with a population of more than 30 million. The investment represents the first external funding to be raised by the company.

The capital will be used to enhance Daojiale’s…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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