Rental Agency Danke Raises $500 Million, Putting Valuation Over $2 Billion

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By Tang Ziyi / Mar 04, 2019 12:07 PM / Business & Tech

Photo: VCG

Housing rental unicorn Danke Apartment has raised $500 million in its latest fundraising round, which values the company at over $2 billion, Caixin has confirmed.

The round of fundraising was led by U.S.-based Tiger Global Management and Alibaba-backed Ant Financial Services Group, and will be used to update Danke’s big-data system and add apartments for “blue-collar workers' housing,” following government request for more affordable housing, local media 36kr first reported on Friday.

Founded in 2015, the Beijing-based housing rental operator has 450,000 rooms in 10 cities across the country including in major cities such as Beijing, Shanghai and Guangzhou, after it acquired housing rental company Ai Shang Zu for $200 million in January.

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