Mobike to Complete E-Round Financing That May Boost Valuation to Over USD2 Billion, Says Report
Yicai Global
/SOURCE : Yicai
Mobike to Complete E-Round Financing That May Boost Valuation to Over USD2 Billion, Says Report

(Yicai Global) June 14 -- Chinese bike-sharing company Mobike is to have a new round of financing worth hundreds of millions of dollars, suggested an online media report. Upon completion of the new round of financing, the 30-month-old company will have a valuation of more than USD2 billion.

Multiple insiders have confirmed the financing, says Lei Jianping, a senior online journalist. Mobike may soon announce the deal, he said, citing "insiders close to Mobike." Upon completion of this round, the total financing amount Mobike will have got in a period of 12 months will exceed USD400 million.

Mobike has made no official comment about the issue.

The company this week announced its entry into the 100th city of its global operations – Manchester in Britain, while it will simultaneously roll out in Salford, metropolitan borough of Greater Manchester, in the end of this month. Manchester is the first city outside Asia that Mobike has set foot in. In the coming months, Mobike intends to bring Mobike services to more European cities.

Since the kick-off of its operation in Shanghai in April 2016, Mobike has established presence in Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Singapore, and some other cities in China and abroad within just about one year. The company has set a new goal to expand to over 200 cities around the world by the end of 2017.

Official information indicates that Mobike has deployed over 5 million smart shared-bikes in cities of operations globally with over 100 million registered users, providing over 20 million rides a day.

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Keywords: Mobike , Shared Economy , Bike , Tech , Financing Round , BIKE-SHARING