China-based flat rental service Mogoroom has raised a $30m extension for its series B round, adding to the $25m secured in December 2014, featuring insurance company Ping An, China Money Network reported today.
Ping An invested through its corporate venturing unit Ping An Ventures, while IDG Capital Partners, a venture capital affiliate of publisher International Data Group, and Haitong Kaiyuan Investment, a private equity subsidiary of securities firm Haitong Securities, also participated.
The round was led by venture capital firm KTB Network.
Founded in 2014, Mogoroom is aimed at young professionals in Shanghai and Beijing who are looking to rent a flat. All apartments on the platform are standardised.
The initial tranche of the series B round was led by Haitong Kayiuan Investment and also featured Ping An Ventures and IDG Capital Partners. Ping An Ventures and IDG Capital had also provided several tens of millions RMB (RMB10m = $1.6m) at the time of the company’s launch.
– Image courtesy of Mogoroom