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Tujia brings financing to $64m through GGV Capital-led Series B round

19 Feb 2013

houses-terraced_sqGGV Capital has brought total funding for China’s first online holiday home rental service Tujia to $64m by leading a Series B financing round.

CDG Investments re-upped their investment in Tujia through the latest round, while new investors included Qiming Venture Partners and CBC Capital.

Lightspeed China Partners led the Series A round in May 2012, but did not return for the Series B.

Tujio CEO Luo Jun said that the round of financing would be mainly used to expand its business in more cities in China and improve overall quality of service.

He added that the company would also put more resources into R&D, marketing, product and services.

GGV Capital CEO Jixun Foo said, “China’s online travel market has tremendous opportunities.

“The high quality of innovative leisure tourism and business travel products are the highlight of growth.

“Tujia provides vacation rental service and high quality of O2O system service are well meet the rapid development of the market demand.

“We believe in the management team with rich industry knowledge and experience, Tujia will become China’s household consumer brand.”

China Renaissance Partners acted as exclusive financial advisor for the financing round.

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