Beijing-based short-term vacation home rental platform Tujia.com has completed US$300 million series D and D+ rounds led by All-Stars Investment Limited, according to a statement posted on the company’s Weibo account.
China Money Network previously reported in March that Tujia.com, which runs an online platform similar to Airbnb Inc., was in the process to complete a new round of financing.
Luxury serviced apartments operator the Ascott Limited, as well as existing investors Ctrip, HomeAway, Inc., Lightspeed Venture Partners, GGV Capital, CDH Investments, China Broadband Capital, and Qiming Venture Partners also participated in the round, which values the start-up at US$1 billion.
Launched in 2011, Tujia.com previously received series A financing of tens of millions RMB from Lightspeed China Partners, CDH Investments, Ctrip and HomeAway in May, 2012.
In February 2013, it received RMB400 million series B round (US$64 million) from GGV Capital, Lightspeed, CDH, Qiming and China Broadband Capital.
TuJia.com provides vacation home rental services in 388 destinations in and outside of China, with total number of vacation homes at 310,000, says the statement.