Mofang Apartment has tapped its investment unit to invest in the 58.com-backed apartment rental platform operator's $29.7m series B round.
China-based apartment rental service Wowqu has secured RMB200m ($29.7m) in a series B round led by Mofang Investment, a subsidiary of property rental provider Mofang Apartment, China Money Network has reported.
Wowqu predominantly serves a 20-something customer base and offers two different types of rentals: long-term accommodation for young office workers through community-based co-living spaces, and hotel-like serviced rooms for business travellers.
The company was created by hotel manager Plateno Group in 2015 and currently operates in some 70 urban…
