Tuliu.com, a China-based online land transfer service backed by online entertainment provider Shanda Interactive Entertainment, has raised RMB150m ($23m) in series B financing.
The cash came from Shanda co-founder Chen Tianqiao, who invested alongside venture capital firm Matrix Partners and Foyo Culture & Entertainment. Shanda previously provided RMB50m for Tuliu in 2014 through its Shanda Capital unit.
Tuliu operates a platform that is used to list land holdings and acts as a facilitator for the process, having been granted a license from the Chinese government. It also runs an extensive database of land information including area, prices and development trends.
The company began operations in 2009 and established its first overseas land transfer service in Australia in early 2014. It is in the process of setting up branches in Russia, the US and parts of Africa.