Vertex leads investment in China household services app
Vertex Venture, an investment unit of Temasek Holdings, has led a Series B round for Ayibang, a Chinese housekeeping service booking app, with participation from Shunwei Capital Partners and Ceyuan Ventures.
The size of the round amounts to tens of millions of dollars, Yong Wan, the company's founder, told local media. Shunwei and Ceyuan provided the Series A round of funding last December.
Operating in a similar way to taxi-booking apps, Ayibang connects customers with local household services providers that offer furniture cleaning and laundry services. Users book these services through a mobile app.
Ayibang's services currently cover Beijing, Shanghai and Chengdu. The company will use the new funding to improve service quality and expand into nearly ever tier one city in China by 2015, as well as some tier-two cities.
Ejiajie, one of Ayibang's competitors, secured a Series A round of funding from Shanda Capital and Tencent Holdings earlier this year.
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