AAA Tencent takes a bite of Breadtrip

Tencent takes a bite of Breadtrip

Internet company Tencent has led a $50m series C round for China-based travelogue app developer Breadtrip, Tech QQ reported on Monday.

Fidelity Growth Partners Asia, a subsidiary of asset management firm Fidelity Worldwide Investment, and venture capital firm China Broadband Capital also took part in the round.

China Broadband had already invested $10m in Breadtrip in December 2013 after Vertex Venture Holdings, a subsidiary of Singaporean state-backed fund Temasek, had committed $2m in series A funding the preceding March.

Breadtrip will spend the funds on recruitment and an expansion of its online community to cover more foreign tourism destinations.

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