(Yicai Global) Jan. 17 -- Ziroom, a Chinese apartment rental platform operator, pooled CNY4 billion (USD621.5 million) in A-round financing in a tranche led by Tencent Holdings Ltd., Sequoia Capital and Warburg Pincus.

Ziroom does not have a big need to raise funds, given its considerable cash flow, said Zuo Hui, the chairman Ziroom and Beijing Lianjia Real Estate Agency Co., which backed the rental services provider.

As China's leasing market enters a critical development stage, more apartment leasing and management platforms will jump in, making it necessary for Ziroom to embrace opportunities by relying on partners, Zuo said.

Strong government support drove more than 50 Chinese cities to roll out policies to encourage house leasing last year, and President Xi Jinping emphasized relevant strategies at the 19th National Congress of the Communist Party of China in October.

Ziroom founder and Chief Executive Xiong Lin served as International Business Machines Corp.'s chief strategic consultant before working at Lianjia.

Established in 2011, Ziroom uses an online-to-offline business model to connect property owners and renters. It has been independently operated under Lianjia since 2016 and has expanded its presence in Beijing, Shanghai, Shenzhen and Guangzhou.