Internet group Tencent has invested $800m to lead a series D round for China-based real estate brokerage Ke.com sized at almost $1.2bn that included $50m from property developer Country Garden, Sohu has reported.
Private equity fund manager Gaw Capital Partners supplied $100m for the round while venture capital firm Gaochun Capital invested $80m, Source Code Capital $52m, New Horizon $30m, China Renaissance unit Huaxing Capital $20m and Strait Capital $5m.
The round was filled out by undisclosed additional investors who put up a total of $113m, and it valued Ke.com at $9.5bn according to Sohu.
Ke.com runs an online platform where users can buy new, second-hand and rental properties in some 500 cities across China and utilises virtual reality technology to help users inspect properties. It was spun off by online real estate portal Lianjia in 2018.
The cash will support an ongoing expansion in Ke.com’s research and development and marketing costs in addition to increased management investment as the company forges links to more urban property owners. It will also fund hiring and the strengthening of the company’s technology.
Lianjia’s spinoffs also include Ke Finance, a consumer real estate finance provider that signed a strategic partnership agreement with Ke.com in December 2018 that would help buyers and sellers access financing more easily through the Ke.com platform.
