Fangdd, a popular Chinese real-estate platform announced they had closed a series C funding of $223 million USD led by Fountainvest Partners this July.

The company announced series B funding of $80 million USD just two months ago from Vision Knight Capital China Fund, Lightspeed China Partners, and CDH Venture Partners. The Chinese government has recently eased restrictions on owning multiple homes in China, meaning that services like Fangdd are becoming increasingly profitable. 

“Fangdd’s series C  funding was already completed by the end of July. The reason why we kept it secret for a while was that we wanted our team to focus our energy to the later half of 2015,” said Fangdd founder and CEO Duan Yi. To this date, Shenzhen-based company operates in 50 cities in China, including Beijing, Shanghai, Nanjing, Hangzhou, Suzhou. 

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com