SIG Asia joins $57m round for China online travel guide service

Local travel tour operator Beijing U-Tour International committed $25 million for a 5.50% stake through its Hong Kong subsidiary, according to a filing. A tourism-focused private equity fund, initiated by Beijing U-Tour, also participated in the round.

Founded in 2004, Qyer.com provides travel information to Chinese outbound tourists. Its core products include an online travel guide and a forum through travelers can share experiences. The platform also provides tips for independent travelers globally. It claims to have more than 60 million users.

Qyer posted a net profit of RMB525,899 ($80,000) last year, while revenue came to RMB16.16 million. In the first nine months of 2015, the company's revenue reached RMB18.98 million, with net profit of RMB417 million.

Qyer raised a Series A round of funding from Trustbridge Partners in 2011. Further rounds came from Alibaba Group and SIG Asia in 2013 and 2014, with Trustbridge also participating. Following the latest round, Alibaba holds a 24.7% stake in Qyer, while SIG owns 7.64% and Trustbridge has 16.3%.

The new capital will be used to enrich Qyer's product profile and to develop its big data business.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Venture
• Technology
• Expansion
• Consumer
• China
• Venture
• Susquehanna Asia Investment
• TMT
• Growth capital
• Consumer