China's cycling site Wildto secured RMB20m from angel investor

Wildto, a Xiamen-based online platform for cycling races, has lately attracted RMB20m in angel funding.

The site, which was established by Wildto Network Technology Limited Co., Ltd. in 2013, will make use of the investment for later development and marketing promotions.

The brand provides information of cycling races or activities, score standings of competitions and industry news, alongside interactive communication for cyclers.

Besides an official website, Wildto also launched mobile applications both for iOS and Android systems in November 2014 and December 2014 respectively. As reported, the number of active users of Wildto Apps is around 50,000.

The market for local cycling races is huge as there are around 600 cycling races above county level and 1,500 ones under that level, with approximate average 1000-2000 participants taking part in each competition.

A co-funder of Wildto, named Hou Fengqi, revealed that they would develop Wildto into a service platform of cycling races and make profits from value-added services around cycling competitions.

Source: Sohu