SHANGHAI :
Hellobike Raises USD321 Million in New Funding Led by Ant Financial's Unit
Liao Shumin
DATE:  Jun 01 2018
/ SOURCE:  Yicai
Hellobike Raises USD321 Million in New Funding Led by Ant Financial's Unit Hellobike Raises USD321 Million in New Funding Led by Ant Financial's Unit

(Yicai Global) June 1 -- Jiangsu Youon Bike Low Carbon Technology, the operator of China's third-largest bike-sharing service provider Hellobike, raised CNY2.06 billion (USD321 million) from a number of investors led by Shanghai Yunxin Venture Capital, a wholly-owned subsidiary of Ant Financial Services Group. 

Shenzhen Capital Group also partook in this round of funding, which gives the firm an estimated valuation of nearly USD1.5 billion, the parent company Youon Technology said in a statement.

Jiangsu Youon Bike Low-Carbon also signed an agreement with Shanghai Yunxin and a Ningbo-based investment management partnership on May 30 to transfer part of Ningbo-based firm's stake in Youon Bike to Shanghai Yunxin for nearly CNY21 million.

Upon completion of the share transfer and capital increase, Shanghai Yunxin's shareholding in the firm will increase to about 37 percent from the previous 5 percent as the largest shareholder. Youon Technology gave up its right of first refusal for capital increase and share transfer, and its shareholding ratio will fall to 8.8 percent from 10.2 percent. The Ningbo-based firm's shareholding will drop to 5 percent from 6 percent.

Shanghai Yunxin is also a shareholder of Youon Technology, holding 8.33 percent of its stake.

Editor: Mevlut Katik

Follow Yicai Global on
Keywords:   Hellobike,Youon Technology,ANT FINANCIAL,Funding