Chinese O2O real estate agency Julive announced on Thursday the completion of a Series C+ funding round at $62 million led by Tencent and growth equity investment firm Oceanpine Capital.
Sequoia Capital China; Source Code Capital, the Beijing-based investor behind TikTok owner ByteDance and food delivery giant Meituan; and global venture capital (VC) firm Eight Roads participated in the deal.
The Beijing-based company leverages advanced technologies like big data and cloud computing to build a connected online property trading platform that delivers home sales information, consulting, quality inspection of properties, and transaction services, as well as real estate market data, among others.
Founded in 2014, Julive currently has operations across 37 cities in China. The firm recorded over 5 billion yuan ($769.4 million) in gross merchandise value (GMV) in December 2020. It claims to have facilitated property transactions for over 3 million families to date.
The proceeds will support the firm’s further market expansion, technological investment, and service upgrades, said the firm’s founder and CEO Wang Peng in a statement.
Before the new financing, Julive closed “tens of millions of US dollars” in a Series C round from investors including Eight Roads in September 2019. Its earlier backers include new economy-focused investment firm K2VC, and Vertex Ventures China, the China team of Singapore’s Vertex Ventures.
Source：Julive.com
