China-based crowdfunding website Duocaitou has reportedly bagged $10m for its Series A funding round.
The investment was led by DCM Ventures and also saw commitments from Shunwei Capital, according to multiple media reports.
Founded in 2014, the company is a real estate crowdfunding platform that helps hotel operators connect with investors to enhance fundraising efficiency and lower costs. This platform helps to support amateur investors making investments into the sector.
With this capital, the company hopes to work with luxury hotels Sheraton Hotels and Resorts, Club Med and Six Senses Hotels Resorts Spas, the articles state.
The company also plans to boost number of products focused on apartments and commercial real estate projects.
Last year the company received a pre-A round from Innoangel Fund, Share Capital and Shunwei in 2016, the reports said. In the year prior to that Shunwei had also injected an undisclosed angel investment.
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