DCM Ventures leads $10m Series A in Chinese real estate crowdfunding platform

Image from duocaitou website

DCM Ventures has led a $10-million Series A round in Duocaitou, a crowdfunding platform for accommodation industry, according to a company announcement.

Shunwei Capital, which is co-founded by Xiaomi’s chief executive Lei Jun, also joined this round.

Duocaitou, launched in 2014, is a platform for the owners of hotels, Bed & Breakfast and co-working spaces to connect and raise fund from investors. Individual investors receive premiums or free rooms in return.

Li Rui, a partner at Shunwei Capital, said that China’s leisure industry is fiercely competitive and Duocaitou is an alternative fundraising platform that gives marketing opportunities to operators.

The startup said it will use the funding from the new round to expand into other types of properties including apartments, co-working spaces and commercial real estate projects as well as co-ordinate with luxury hotels.

To date, it claims total fundraising on the platform has reached RMB4.6 billion ($670 million) from more than 10,000 individual investors.

Duacaitou completed its pre-Series A financing round in 2016, receiving funds from Share Capital, Innovation Angel Fund, and Shunwei. Shunwei also put in undisclosed angel funding in 2015.

Also read:

China: Shanhai Capital completes $500m buyout of US chip-maker Analogix

Exclusive: Fintech startup Akulaku bags funding from DCM Ventures, others

China: Shunwei, Hualian invest in Shansong; CASH Capital backs SpeedyCloud

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.