DCM Ventures has led a US$10 million series A round in Duocaitou, a Chinese crowdfunding platform focused on hotel and apartment projects, with participation from Shunwei Capital, according to a company announcement.
"Duocaitou provides a platform for Chinese hotel operators and co-working space companies to connect directly with investors, which can enhance fundraising efficiency and reduce costs, said Hurst Lin, co-founder of DCM China. "At the same time, Duocaitou offers financial services products that allow individuals to enjoy attractive returns from real estate projects."
Founded in 2014, Duocaitou has provided fundraising services for projects in 375 locations across China, U.S., Japan, South Korea, Australia and Thailand. The platform has facilitated over RMB501 million (US$73 million) in total fundraising, the company said.
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