WM Motor, Fosun and Bertelsmann Asia Investments have reportedly exited app-based bicycle rental platform Hellobike as it gears up to raise money.

Investors including corporates WM Motor, Fosun and Bertelsmann have divested their stakes in China-based bicycle rental service Hellobike, Kr Asia has reported, citing a regulatory filing. Hellobike operates a bike rental platform with 200 million registered users. Reports last week stated it is looking to raise up to $1bn in its next round despite the…

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