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Tencent leads US$250M investment in Chinese travel website

Tencent Holdings Ltd. led a US$250 million funding round for Chinese travel website Beijing Mafengwo Network Technology Co. Ltd.

Other investors were General Atlantic Service Co. LP, Qiming Venture Partners, Yuantai Evergreen Investment Partners, NM Strategic Focus Fund LP and eGarden Ventures Ltd.

Mafengwo will use the proceeds of its latest investment round to improve the quality and efficiency of its website.

In December 2017, Mafengwo raised US$133 million through a series D financing round.