China-based apartment rental service Mogoroom has closed a $25m series B round backed by IDG Capital, the China-based corporate venturing affiliate of media and data provider IDG, China Money Network has reported.
Haitong Kaiyuan Investment, a private equity subsidiary of securities firm Haitong Securities, led the round, which also featured participation from Ping An Ventures, the venture capital unit of insurance firm Ping An.
Launched at the start of 2014, Mogoroom helps Shanghai-based professionals locate apartments. It intends to spend the cash in expanding its rental networks and enhancing its technology.
– Photo courtesy of Mogoroom