Kaistart, a China-based crowdfunding platform backed by online games developer Beijing Kunlun Tech, has raised $29m in a series C round led by Yunfeng Capital, China Money Network reported today.
Certain Capital also took part in the funding round, which valued Kaistart at $200m post-money.
Founded in 2015, Kaistart operates a crowdfunding platform that has been designed with the Chinese hospital sector in mind, focusing on hotels, restaurants and tourism projects. The platform also offers value-added services such as marketing, branding and staff training.
The company claims to have grown to more than 20 million registered users.
Beijing Kunlun Tech led a RMB100m series B round in June 2016, following a series A+ round worth tens of millions of renminbi provided by Matrix Partners and Vision Plus Capital four months earlier.
In 2015, Kaistart secured RMB33m in a series A round backed by Meridian Capital and Tipping Point Capital.