Mafengwo Raises USD133 Million to Improve Online Travel Content, Services
Liao Shumin
DATE:  Dec 12 2017
/ SOURCE:  Yicai
Mafengwo Raises USD133 Million to Improve Online Travel Content, Services Mafengwo Raises USD133 Million to Improve Online Travel Content, Services

(Yicai Global) Dec. 12 -- China's leading self-guided tour platform Mafengwo raised USD133 million in its fourth funding round and plans to better help users make travel decision, it said today.

The firm will use proceeds to provide more useful travel tips for users, upgrade its tourism Big Data to help the sector reshape the industrial chain for self-guided tours and provide more efficient consumption guidance for Chinese travelers.

Ocean Link, General Atlantic LLC, Temasek, Yuantai Changqing Fund and Hope Fund all participated in the latest round, with existing investors Capital Today, Qiming Venture Partners and Hillhouse Capital all injecting more money into the company.

Mafengwo differs from traditional online travel agencies in that it aims to link quality, tailored vertical content with products to encourage users to buy. Sales of its self-guided tour products, including hotel accommodation, transport and local entertainment, have grown rapidly over the last two years. Its gross merchandise volume is forecast to hit nearly CNY10 billion (USD1.5 billion) this year, making it one of the country's fastest growing online travel firms.

The company is a popular travel website among younger Chinese residents and provides quality tourism information and booking services, some have even hailed it as a Chinese travel bible. The firm began as an online community but is now a leading platform for self-guided tours in the country.

Follow Yicai Global on
Keywords:   Mafengwo,TOURISM,Online Travel Agency