Taiwan’s Neoglory Group Leads $29M Round In Chinese Apartment Rental Firm

Neoglory Group, a Taiwan-based conglomerate with real estate and investment businesses, has led a RMB200 million (US$29 million) series B round in Coming Space, a Nanjing city-based apartment rental start-up focused on young professionals.

A similar start-up, Mofang Apartment, a Shanghai-based apartment rental services franchise, raised a US$200 million from Warburg Pincus last May. In 2012, it also completed a funding round reportedly worth US$60 million from Warburg Pincus.

Another rival, a short-term serviced apartment platform, completed a RMB100 million (US$15 million) round from Singaporean real estate firm City Developments Ltd. last September.

Founded in 2010, Coming Space provides a number of rental services, including apartment, life-style hotel, co-working space, start-up cafe and incubator rental.

The company claims...

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