China-based holiday home rental platform Xiaozhu has raised a total of $65m in series C+ and D funding from investors including media company Bertelsmann, China Money Network reported today.
Bertelsmann co-led the series D round with Joy Capital through its local corporate venturing subsidiary, Bertelsmann Asia Investments. The series D round also included Morningside Ventures, Capital Today and Heyu Capital.
Growth capital fund Capital Today also led the series C+ round. Xiaozhu has not disclosed the individual sums raised in each of the two rounds.
Founded in 2012, Xiaozhu has developed a platform that enables tourists to book short-term holiday homes from other users. The company focuses on budget-friendly listings and claims to have 100,000 places across 301 cities in China listed on its site.
The company previously secured $60m in a July 2015 series C round led by Joy Capital that included Morningside, Citic Capital and Heyu.
Legend Capital, a corporate venturing division of conglomerate Legend Holdings, led Xiaozhu’s $15m series B round in 2014, following an undisclosed amount of series A funding provided by Morningside in 2012.