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China's Hellobike raises US$350m in latest funding round

Published Mon, Dec 4, 2017 · 09:50 PM
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Beijing

CHINESE bicycle-sharing firm Hellobike said on Monday that it raised US$350 million in its latest funding round from investors including Alibaba Group Holding Ltd's Ant Financial, confounding recent signs of strain in the nascent industry.

The Shanghai-based firm is among a slew of companies that have launched a wave of brightly coloured shared bicycles on to China's city streets over the past year. However, the sector now faces a shakeout with the third-largest firm…

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