(Yicai Global) Dec. 7 -- Shanghai Jun Zheng Network Technology Co.’s Hellobike bicycle-sharing service has pooled USD350 million in D1-round financing and is busy preparing for the D2 round, a source told Yicai Global in an exclusive interview.
Hellobike will likely raise more in its next round than it did in its last. Ant Financial Services Group, who backed the group’s D1 round, will probably participate in the upcoming one.
Other Hellobike investors include new energy vehicle maker WM Motor Technology Co. and Chengwei Capital. The most recent funding round was the first since Hellobike and Jiangsu Youon Low Carbon Technology Co. merged in October.
Ant Financial has become the largest shareholder of the merged entity, said Low Carbon Technology affiliate Changzhou Youon Public Bicycle System Co. [SHA:603776].