(Yicai Global) Nov. 1 -- Short-term home rental platform Xiaozhu, operated by Beijing Run Technology Co., has raised USD120 million in E-round funding led by YF Capital, the private equity firm founded by Jack Ma, the billionaire behind Alibaba Group Holding Ltd. [NYSE:BABA].

The Chinese firm released information about the funding round today, Lieyunwang reported. Supporting investors include existing shareholders Joy Capital, Capital Today and Morningside Group, and a number of investment funds.

Since its inception in 2012, Xiaozhu has completed several funding rounds. In 2013, it raised USD10 million in its A-round funding. It snagged USD1.5 million in its B round the following year and secured USD60 million for its C round in 2015. It accrued USD65 million through C+ and D-round funding last year.

In its five years of operation, the platform has developed its business model to include upstream and downstream services, such as cleaning and photography, to gain the largest market share in the industry in China, said company founder Zhen Chi. At the end of the first half of this year, Xiaozhu had properties for rent in more than 400 domestic and foreign locations.