Danke Apartment, the China-based operator of an online apartment rental platform, has received $70m in a series B+ round that included media group Bertelsmann, China Money Network reported today.
Bertelsmann contributed through regional investment arm Bertelsmann Asia Investments (BAI). It was joined by lead investor Tiger Global Management, China Media Capital,Gaorong Capital, Joy Capital, Vision Plus Capital and Shenzhen Doujin Investment Management.
In February 2018, Danke raised an initial $100m in series B funding from BAI. The first close was co-led by China Media Capital and Banyan Capital, and also featured Vision Plus Capital, Youjin Capital and Joy Capital.
Founded in 2015, Danke manages more than 120,000 apartments across eight cities– Beijing, Shenzhen, Shanghai, Guangzhou, Tianjin, Wuhan, Nanjing and Hangzhou. The company is targeting 300,000 apartments by the end of the year.
Danke had obtained an undisclosed eight-figure renminbi amount in a 2015 series A round before adding $14.7m in a July 2017 series A+ round led by Joy Capital that included Ucommune, the co-working space operator then known as UrWork, and Kaiwuhuadeng.