Immigration service platform Hinabian has raised an undisclosed sum of B round financing from Ctrip, according to news of 36Kr.
Previously, the company had secured an angel round backed by ZhenFund, and raised 35 million yuan in the A round led by Shunwei Capital Partners, as well as 30 million yuan in the A+ round from SourceCode Capital.
The proceeds from the B round will be earmarked for implementing overseas business, and Ctrip will gear up its global business reach by providing open access for Hinabian.
Founded in 2014, Hinabian offers information and services for more than 50 immigration projects in 21 countries including the United States, Australia, New Zealand and Canada. Since 2017, Hainan has extended to the overseas real estate sector, offering pre- and after-sales services for high-quality properties.
Currently, Hinabian has recruited more than 200,000 registered users and 800,000 monthly active users for its app. Hinabian has so far served hundreds of thousands of migrants and people who have bought properties overseas.
China is the fourth largest exporter of migrants in the world, and there is great demand for overseas property investment, education and immigration from the affluent middle class and high-net-worth individuals. A joint study by Industrial Bank and Boston Consulting Group suggests that the proportion of personal overseas real estate investment in the total mix of real estate investment will increase from the current 4.8% to 9.4% in 2020, and the market volume will expand by 13 trillion yuan.