Mo­bike raises $215m in lat­est fund­ing round

China Daily (Canada) - - BUSINESS -

Chi­nese bike-shar­ing firm Mo­bike said on Wed­nes­day it has raised $215 mil­lion in a new fund­ing round, led by Chi­nese in­ter­net gi­ant Ten­cent Hold­ings Ltd and War­burg Pin­cus, a lead­ing pri­vate eq­uity firm. Davis Wang, co-founder and CEO of Mo­bike, said: “We will step up ef­forts to grow our pres­ence in China and go global in 2017.” Mo­bike is one of the fastest-grow­ing bike-shar­ing firms in China, with ser­vices cur­rently avail­able in nine cities, in­clud­ing Bei­jing and Shang­hai. It is com­pet­ing with ofo in the race for control of the nascent bike-on-de­mand sec­tor.

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