Chinese Bike Rental Firm Youon’s Subsidiary Raises $123M From Ant Financial And Others

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Chinese bike rental company Youon Bike said one of its subsidiaries has agreed to raise RMB810 million (US$123 million) from eight investors including a unit of Ant Financial. The proceeds will be used to finance its wholly-owned subsidiary Jiangsu Yonganxing Low Carbon Technology Co. to further expand in the GPS-powered station-less bike sharing operations, according to a security filing.

China Money Network

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