The rate increase is part of parent company Meituan’s broader profitability push.
Mobike Europe branch is reportedly planning on branching out into e-bike and scooter rentals in the region.
Mobike has started to charge Shanghai users an extra RMB 20 (around $3) if they park a bike outside the company’s ‘area of operation.’
Beijing and Shanghai have given no indication of whether the bans will be lifted.
Two repeat investors participated in DST’s latest fundraise, and well-known Qiming Ventures led its first funding rounds.
Other bike-rental companies are considering raising prices, as warmer weather brings a likely rebound in trip numbers.
Meituan-owned Mobike also denied that layoffs in Asia are part of a larger exit strategy.
Bike companies have a longer time for implementation than previously announced.
Discarded bikes are languishing after the rental-bike boom went bust due to high retrieval costs.
Chinese bike-rental firms, Mobike and Hello Transtech, expressed their willingness to enter the bidding.