Caixin
Jan 17, 2018 06:22 AM
BUSINESS & TECH

Rental Service Unicorn Ziroom Raises 4 Billion Yuan

China pledged policy supports to boost the rental market amid skyrocketing housing prices. Photo: IC
China pledged policy supports to boost the rental market amid skyrocketing housing prices. Photo: IC

Ziroom says it raised 4 billion yuan ($621 million) — the largest amount ever to be pulled in by a Chinese apartment rental service provider, according to CEO Xiong Lin.

The haul, announced at a news conference Tuesday, coincides with a push by the central government to develop more rental housing, as skyrocketing housing prices have made owning challenging for many individuals and families.

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