Legend Capital Participates In Series B Round In 51tour.Com

Beijing-based overseas travel services firm 51tour.com has completed an undisclosed amount of series B financing from Chinese venture firms including Legend Capital, Shenzhen Cornerstone of Entrepreneurial Cci Capital Ltd, and Zhengyuan Celve, according to a company announcement.

Meanwhile, the company has entered into a strategic partnership agreement with Hong Kong-based property developer, New World Development Company Ltd., to cooperate on cross-border commerce and overseas travel.

In 2012, Legend Capital led an undisclosed series A round in the company.

Founded in 1996, 51tour.com serves over 300,000 Chinese tourists traveling abroad annually, with revenues reaching around RMB5 billion (US$800 million), according to its website.

There have been two other venture deals in the red hot tourism sector in China during the first month of 2015, including Shanghai-based online travel community and information sharing mobile app 117go.com receiving a new round of financing led by New Horizon Capital, and online travel insurance service provider Ins110.com receiving a RMB500 million (US$80 million) series A financing.

China Expert Network
 
China Expert network

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