China’s WeWork Secures $500 Million In a Fresh Funding Round
The Chinese subsidiary of coworking space, WeWork has raised a US$500 million Series B funding round led by Trustbridge Partners, Temasek, SoftBank Group, SoftBank Vision Fund and Hony Capital, according to the reports. WeWork's big raise comes days after Hong Kong’s Campfire pulled in $18 million and Awfis in India raised $20 million.
The company launched into China two years ago and currently, it covers Beijing, Shanghai and Chengdu with nearly 40 locations. It consists of 20,000 members, and it is also active in Hong Kong (Greater China).
The new capital comes from Trustbridge Partners, Singapore’s Temasek, SoftBank, SoftBank’s Vision Fund and Hony Capital. WeWork said it’ll be used for expansion into six new cities: those are Shenzhen, Suzhou, Hangzhou, Chengdu, Nanjing, and Wuh...