China serviced apartment chain Mofang raises $300m
Mofang Gongyu, a Shanghai-based serviced apartment chain operator, has raised $300 million in a Series C round of funding led by AVIC Trust. Existing backer Warburg Pincus also participated.
Mofang announced the fundraising in a local press conference, according to Iyiou.com. The round gives Mofang a post-money valuation at more than $1 billion. Founded in 2010, Mofang operates 150 serviced...
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