Sequoia leads Series B for China home renovation site to8to
Sequoia Capital has led a Series B round of funding for to8to, a Chinese online renovation site, with participation from existing investor Matrix Partners.
Details of the transaction were not disclosed but the investment was said to be about RMB100 million ($16 million). The online platform received fund from Matrix in 2011.
The new capital will be used to expand its networks into other Chinese cities.
Founded in 2009, to8to provides services for users to find contractors to renovate and decorate their apartments. It covers more than 80 Chinese cities with 60,000 construction companies and 7 million in-house designers.
"To8to has grown quickly within few years. We are confident on the team's ability to drive the business to go further in the future," said Kui Zhou, a partner at Sequoia Capital.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.