Chinese bike-sharing merger HelloBike scoops $350 million
HelloBike has completed a USD 350 million D1 round of financing, and it has led the growth in bike-sharing in second- and third- tier cities.
36Kr reported on December 4 that HelloBike has completed a USD 350 million D1 round of financing, participated by Ant Financial, WM Motor, Chengwei Capital, For Star and other institutional investors. This is the first round of financing after the company’s merger in late October.
After merging with Changzhou Youon Public Bicycle System, the company headed by CEO Lei Yang has 80 million users registered as of the end of November.
HelloBike joined the bike-share race relatively late in November 2016, but it has carved a niche in the highly competitive category thanks to solid management, product design, user experience and operational efficiency. At present, HelloBike focuses on exploring second- and third- tier cities, and is leading the industry with efficient operation and maintenance and intelligent vehicle parking management.