China commercial property service platform raises $39m
Haozu.com, a Chinese O2O commercial real estate service platform, has raised a RMB250 million ($39 million) Series A round of funding led by Joy Capital and Black Hole Capital.
Northern Light Venture Capital also participated in the round.
Haozu.com was initially a subsidiary of Chinese classifieds website 58.com but it was spun out from the parent company in the middle of last year. The platform focuses on providing office rental services to corporate clients in the cities of Beijing, Shanghai, Guangzhou and Shenzhen. It also offers one-stop services for Chinese companies, including commercial registration, office cleaning, furniture rental and other financial assistance services.
The company now has 5,000 monthly users, offering more than 20,000 sets of commercial property resources on its platform.
The fresh funding will be used to expand the company's rental services into second-tier Chinese cities, as well as to improve its product offerings, Xianyang Qu, the company's founder and CEO, told local media.
Joy Capital, a VC firm spun-out from Legend Capital, led a $60 million round for Chinese short-term rental site Xiaozhu.com last year.
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