Yeahmobi Raises £75m in Series C Funding Round
- Thursday, December 22nd, 2016
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China-based mobile performance marketing network Yeahmobi has raised RMB 639m (£75m) in a bid to bolster its global expansion. This Funding round now puts the company’s value at RMB 5bn.
Investors in the company in the Series C funding round included Beijing Bohai Tongxin Private Equity Fund, Nanjing Huawen Hongsheng Startup Investment Fund, Shenzhen Qianhai Bochuang Private Equity Fund, and 11 others.
The funding is said to be used as working capital needed in mobile advertising business in subsidiary companies and branches. Yeahmobi hopes to ‘leverage the favourable capital market conditions in its home market to pursue global growth opportunities’.
The previous funding round of the company was closed in April 2016, and raised RMB 174m through equity funding, led by Chinese tech giant Xiaomi and its CEO Lei Jun.
Launched in 2011, Yeahmobi is a mobile advertising platform which aims to help mobile technology companies reach global growth, acquire active users and monetise inventory.
The company operates in the field of consumer apps, mobile games, cross-border e-commerce, internet finance, lifestyle, travel and other industries, delivering global coverage.