Weekend Travel raises millions in Series A financing
Weekend Travel raised 10 million RMB in their series A financing. The lead investors were HG Capital and Roots Capital.
Weekend Travel (Chinese: Zhoumo Quna Wan) is a Chinese travel startup focusing on weekend travel near metropolitan areas. The company recently raised 10 million RMB in their series A financing. The lead investors were HG Capital and Roots Capital.
Weekend Travel has amassed a huge number of fans and a million users on WeChat, QQ Zone, and Baidu Bulletin Board. Within the next 2-3 years the company is estimated to become the top supplier of weekend getaway travel products and services.
Wenlong Zhang, Weekend Travel’s CEO says, “Weekend Travel is different from other OTAs that only offer simple weekend discounts. Our company designs comprehensive travel products that provide full value to the customers and eliminate the need for them to plan ahead of time. With the funds from this financing we will improve our WeChat operations, expand our product SKU, and pioneer new markets”.
Baohua Wang, director at HG Capital says, “Weekend travel services are an important niche in the online travel market with plenty of potential for growth. The founders of Weekend Travel have rich industry experience and they are highly skilled at integrating resources. We have examined their operational background and are confident in Weekend Travel’s business model and in their excellent management team”. (Translation by David)