The tutoring app developer increased its valuation to more than $3bn in a Tencent-led round that took its overall funding past the $500m mark.

Internet group Tencent has led a $300m round for China-based online education platform developer Yuanfudao, TechCrunch reported on Wednesday, citing an announcement by the company. Private equity firm Warburg Pincus, venture capital firm Matrix Partners China and VC group IDG Capital also participated in the round, which valued the company at more than $3bn according…

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.