China's property rental firm Ziroom raises $622m from Warburg Pincus, Tencent

Pedestrians walk past commercial buildings illuminated at dusk in the Lujiazui Financial District in Shanghai, China. Photographer: Qilai Shen/Bloomberg

Chinese apartment rental services firm Ziroom has raised more than Rmb4 billion ($621 million) in a Series A funding round led by Warburg Pincus, Tencent, and Sequoia Capital China, according to a statement released by Warburg Pincus

Seven other investors – China Renaissance Principal Investment, Sunac Capital, GA Capital, H Capital, Source Code Capital, Haixia Asset, and New Hope – also participated in the round, which Ziroom claims is the biggest financing round ever raised by a long-term rental firm in the country.

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