Xiaozhu.com, a Beijing, China-based home-sharing platform, raised approx. USD$300m in funding.
The round was co-led by Jack Ma-backed Yunfeng Capital and Advantech Capital with participation from newly added GIC Private Limited and existing investors Joy Capital, Morningside Ventures, and Capital Today.
The company will use the capital for global network expansion and development of a smart home IoT system.
Founded in 2012 by Chen Chi, CEO, Xiaozhu is a large peer-to-peer based home sharing platform in China. The company signed a global strategic partnership with agoda in March 2018 and a strategic partnership with Alibaba’s travel brand Fliggy in May to expand its global network, share properties, and promote post-pay services. In May 2018, it joined forces with Ant Financial to promote facial recognition smart door locks.
According to the company, Xiaozhu now has over 500,000 listings in more than 650 destinations across the world.
In November 2017, it closed a $120m round of financing led by Yunfeng Capital.