SAIF leads $16m round for China real estate site Jiwu
SAIF Partners China has led a RMB100 million ($16 million) Series A round of funding for Jiwu.com, a Shenzhen-based real estate listings portal.
As part of the round, Thaihot Group - a listed Chinese property developer - invested $5 million for a 6.67% stake, a filing showed.
Founded in 2011, Jiwu provides an online platform for property developers and agencies to sell homes on the primary and secondary markets, covering 20 Chinese cities. Currently there are over 10 million registered users and 500,000 real estate agencies on Jiwu's platform.
The start-up claims that the number of transactions on the site has increased three-fold in the past year alone, and it expects to facilitate over RMB150 billion in sales this year, according to a statement.
Jiwu previously raised a $4 million seed round from Decent Capital, an angel investment firm founded by Liqing Zeng, a co-founder of Tencent Holdings. This latest round of funding will be used to develop new products and upgrade the users' online experience.
On Thursday, GGV Capital and Morningside Technologies led a $120 million Series D round for Aiwujiwu, a Chinese rental and second-home listings portal. In March, 58.com, a VC-backed classifieds website along the lines of Craigslist, acquired Anjuke, an online real estate listing platform, for about $267 million.
Last year Vision Knight Capital led a $80 million Series B round for Fangdd.com, a real estate portal, with participation from Lightspeed China Partners and CDH Venture.
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