Banyan Capital, a Chinese venture capital firm focused on investment in early-stage telecom, media and technology start-ups, has led a series A round worth tens of million of U.S. dollars in Lizhiweike, a Shenzhen-based online education mobile app.
Chinese venture firm GSR Ventures also participated in the round, according to a company announcement.
Founded in 2016, Lizhiweike offers paid online courses in a number of fields including foreign languages, health, careers, education and emotional relationships.
The platform currently has over 800,000 registered individual teachers and education institutions, and has accumulated over seven million followers on its official WeChat account. With almost 70% of its audience being adult women, Lizhiweike's vision to become the the largest paid content platform in China.
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