Existing investors Fosun and Ant Financial contributed to the first tranche of the bicycle rental platform's series E round, four months after a $500m series D.

China-based bicycle rental service Hellobike has secured about $700m in series E1 funding from investors including conglomerate Fosun and Ant Financial, the financial services affiliate of e-commerce group Alibaba, Yicai reported today. The corporates were joined by seven undisclosed investors. The funding is the first tranche of the company’s series E round and it is…

The rest of this content is only accessible to Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.