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Chinese outbound travel service Lailaihui raises $16.3 million

08/19/2014| 3:25:29 PM|

Chinese online travel brand Lailaihui has raised $16.3 million in Series B round from Fosun Venture Capital and CDH Investments.

The Beijing-based business says it will use the new capital to upgrade its IT and customer service systems, as well as improve its product offering.

The company was originally created to develop software for tour operators, but later transformed into a consumer-facing business offering last-minute discounts for groups of outbound travellers in China.

Earlier this year the Lailaihui raised “millions of dollars” in a Series A round from Unity Ventures and its latest backer, CDH Investments.

Competitors of Lailaihui in China include Ilvxing, and Hangzhou Goyo Network’s Go!. 

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TAGS: outbound travel | Lailaihui | financing
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