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Ecommerce

Mafengwo raises USD 250 mln in Tencent-led funding round

Friday 24 May 2019 | 10:57 AM CET

China-based Mafengwo has announced it has raised USD 250 million in a funding round led by Tencent Holdings Ltd, as it expands in the online travel market.

In a statement, the company said General Atlantic, Qiming Venture Partners, Yuantai Investment, NM SS Holdings Limited, and Hopson Emerald Limited were the other investors who participated in the fundraising.

Mafengwo is an online community where Chinese tourists share travel tips and shop for travel products. In this space, travel site Mafengwo competes with CTrip.com, Fliggy, and other companies.

Moreover, the company expanded into bookings for travel services via affiliate partners.

More: Link
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