Duocaitou, a Chinese real estate crowdfunding platform that’s dedicated to boutique hotels and home rentals, announced on Wednesday it has completed its Pre-A financing round and has received funds from three venture capital firms, Capital, Innovation Angel Fund, and Shunwei Capital Partners.
Gengqian Zhao, CEO of Duocaitou, stated to China Travel News that projects on the Beijing-based crowdfunding platform have generated over 100 million, and total funding of all the programs is nearly RMB 1 billion. He then noted the funds from the financing round will go towards building a comprehensive network of travel accommodations and provide products for investors.
The funding portal did not reveal how much it received during the Pre-A financing round.