Meridian Capital China Joins $17M Venture Round In Aipinji


Meridian Capital China and Hangzhou Hongfan Tiansheng Capital have led a RMB120 million (US$17 million) series B funding round in Aipinji, a Uber-like application for airline tickets in China.

Glory Ventures, Initial Capital, Guanghe Venture Capital and a number of Chinese RMB funds also participated.

Hangzhou-based Aipinji, operating via Apin.com and different mobile apps, connects airline ticket whole-sellers and end-consumers directly to help airlines better manage their ticket sales and provide users cheaper prices.

"Aipinji’s team is ambitious and creative," said Sun Jianbo, a partner at Initial Capital. "Its objective of creating an open and smart air ticket sharing platform makes it a potential future technology giant."

Aipinji currently works with thousands of air ticket suppliers and tens of thousands travel agencies in China. Its monthly transaction volume has reached RMB100 million (US$14 million), and is growing at 20% monthly, the company claims.

The company said it plans to use the funding proceeds on market expansions in China and Asia Pacific, developing new products and grow its partner network.

 

RELATED NEWS