The funding spree continues in China’s bike-rental sector. Bike-rental startup ofo announced over the weekend that it raised an undisclosed amount in its Series D+ from Alibaba’s financial arm Ant Financial.

Under the deal, ofo cooperate with Ant Financial in the fields of e-payment, credit system and globalization process.

The announcement came less than two months after the bike-rental startup secured a US$450 million series D in March, which the company said was the largest amount in a single funding round in the sector.

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Sheila Yu

Sheila Yu is a Shanghai-based technology writer. She brings readers the biggest news from Chinese language tech media. Reach her at sheila@technode.com.