Social networking service Mafengw has finished its sixth financing round.
The last time Mafengwo received VC funds was in 2019 when a consortium led by Tencent Holdings injected US$250 million (1.7 billion yuan).
Many saw this a positive sign of the tourism business in China.
CHEN Gang, founder and CEO of the company, said the money will be used to build a new supply chain and a better content system.
“We will offer travelers more diverse solutions, while empowering tourist destinations with digital tools,” he said.
Founded in 2010, Mafengwo is China’s largest online traveling community. It offers abundant travel tips uploaded by users.
