Mobike raise US$0.215 billion in round D financing

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On January 4, Mobike announced that it had completed a new round (round D) of equity financing and had raised US$0.215 billion. The lead investors include Tencent (China’s largest Internet Service Portal) and Warburg Pincus (a leading global private equity firm). The strategic and financial investors include Ctrip, China Lodging Group, TPG and others, while the current shareholders like Sequoia Capital and Hillhouse Capital have also co-invested in this round of financing. The full-service investment bank China Renaissance will provide an exclusive financial consulting service for Mobike in the bike sharing industry. 

Wang Xiaofeng, the CEO of Mobike, has indicated in an interview that the company has created the smart bike model, which has a significant social benefit, and is quite helpful in alleviating traffic congestion and smog in cities.

Wang Xiaofeng also says that Tecent, Ctrip and China Lodging Group are all Internet giants with enormous local resources, government connections, mobile payment & map applications. These will greatly improve Mobike’s business development if  applied to Mobike.

Mobike will continue to bring in more strategic investors in the future. After completing this round of investment, they will further develop the domestic bike sharing market, as well as expanding into foreign markets.

Source: Baidu Baijia, NetEase

Proofread by Sean O Diobhilin