News Focus

The Meridian Capital-invested company Kaishiba announced that it had completed C round of financing of RMB 190 million, led by Yunfeng Fund with participation of Shengdao Investment. After this round of financing, Kaishiba is valued over USD 200 million. In 2015, Meridian Capital joined Kaishiba's A round of financing as a leading investor. The Hangzhou-headquartered Kaishiba, formerly "Kaistart", was officially launched in March 2015. In the early stage, Kaishiba gathered together users sensitive to consumption upgrading with content and entered the non-standard accommodation, personalized catering, new agriculture, new leisure and other industries by crowd-funding. Today, positioned as a consumer investment platform, Kaishiba has connected consumers, investors and offline consumption upgrading projects, creating a closed business loop. Kaishiba has so far raised RMB 3 billion and accumulated 20 million users, among which 500,000 users has participated in consumption or crowd-funding activities on the platform (25% users participated more than twice). Kaishiba's CEO Xu Jianjun said that the funds secured in this round of financing will be used to build a more healthy growth ecology and stronger business barriers for the company as well as optimize the risk control and post-investment management model.