Tencent, Warburg lead US$215m funding round for China's Mobike

Beijing

TENCENT Holdings Ltd and Warburg Pincus led a US$215 million round of funding for year-old Beijing startup Mobike, ratcheting up the competition in China's burgeoning urban bicycle-sharing scene.

The round brought in a clutch of new, influential names including private equity firm TPG Capital, Chinese travel service Ctrip.com International Ltd and Huazhu Hotels Group.