Existing investors Fosun and Ant Financial contributed to the first tranche of the bicycle rental platform's series E round, four months after a $500m series D.
China-based bicycle rental service Hellobike has secured about $700m in series E1 funding from investors including conglomerate Fosun and Ant Financial, the financial services affiliate of e-commerce group Alibaba, Yicai reported today.
The corporates were joined by seven undisclosed investors. The funding is the first tranche of the company’s series E round and it is in the process of raising the rest. Electric vehicle developer WM Motor is taking part in the round but has not revealed in which tranche…
