Shanghai-based young professional apartment rental O2O (online-to-offline) platform Mogoroom has completed US$25 million series B financing led by Haitong Kaiyuan Investment Co., Ltd., according to the company’s official Weibo account.
The company says it will use the proceeds to expand its rental network, improve its services and for technology upgrades.
Launched in January 2014, Mogoroom currently operates in Shanghai, providing standardized rental apartments to young professionals seeking more reliable living environment.
Haitong Kaiyuan Investment is a subsidiary under Haitong Securities’ direct investment department.
Ping An Ventures is a venture capital arm under Ping An Insurance (Group) Company of China, Ltd.