Ant Financial-backed Hellobike seeks to raise at least $500m in funding

Ant Financial-backed Hellobike seeks to raise at least $500m in funding

HelloBike bicycles stand parked on a sidewalk in Shanghai, China, on Wednesday, Jan. 9, 2019. Photographer: Qilai Shen/Bloomberg

Hellobike, a bicycle-sharing startup backed by Ant Financial, plans to raise at least $500 million in funding as it fights for customers in a brutal Chinese market, people familiar with the matter said.

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