Hellobike Completes Series-D1 Round of USD350 Million Invested by Ant Financial, Others

Hellobike Completes Series-D1 Round of USD350 Million Invested by Ant Financial, Others

Xu Wei

Date: Mon, 12/04/2017 - 16:29 / source:Yicai
Hellobike Completes Series-D1 Round of USD350 Million Invested by Ant Financial, Others
Hellobike Completes Series-D1 Round of USD350 Million Invested by Ant Financial, Others

(Yicai Global) Dec. 4 -- Hellobike, operated by Shanghai Junzheng Network Technology Co., Ltd., announced completing its series-D1 round of financing, netting up to USD350 million, with investors including Ant Financial Service Group -- another enterprise created by Alibaba Group Holding Ltd. [NYSE:BABA] founder Jack Ma -- new energy automobile enterprise and traveling solution provider Weltmeister Automobile Technology Co., Chengwei Capital, Fujitec Group and other world-known investment organizations and industrial capitals.

This marks the first round of financing after the merger of Hellobike and Youon Low Carbon Technology Co. at the end of October.

Led by chief executive Yang Lei, the newly-merged company has been advancing in the shared travel industry, including bike-sharing. The number of registered users had reached 80 million by the end of November, making Hellobike the fastest-growing player during the recent industry reshuffle.

Lighthouse Capital Group also provides exclusive financial advice services for Hellobike during the series-D round. Chengwei Capital and Weltmeister Automobile are respectively investors in the B round and B+ round. Fujitec’s investment represents the first time for an upstream manufacturing enterprise to invest in a bike-sharing operator.

As a world-renowned and Asia’s largest bicycle manufacturer, Fujitec is an important production supplier of Hellobike. The investment by Fujitec not only represents the recognition of Hellobike’s operating model by the industrial upstream, but also means Hellobike’s internet concept has influenced and reshaped upstream and traditional bike manufacturers through its operations.

Bike-sharing effectively ameliorates urban traffic jams and contributes to green and low-carbon travel. Ant Financial will keep promoting credit deposits in the bike-sharing industry and allow users to enjoy more convenient, environmentally- friendly and safe travel services, the firm said.

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Keywords: Ant Financial Services, Chengwei Capital, Hellobike, Lighthouse Capital Group