Fancyedu.com, an O2O platform for child education, has raised RMB 120 million (USD 18.5 million) in a Series-B financing led by Zhongjingxin Capital, with participation from Shangya Fund and Amoeba Capital. After this round of financing, the platform will be valued at over RMB one billion, Sina Tech reported on Monday.
Fancyedu.com was established in Shanghai in 2014 by two fathers, and is dedicated to providing quality reading materials for Chinese children.
The platform now has three divisions. An Early Childhood Education Division set up for three to six-year-old, providing picture books and English education; an E-commerce Division working closely with libraries in kindergartens, primary schools, and training schools to provide educational services for children below 12 years old; and an English Education Division cooperating with large publishing houses to provide quality English reading material.
At last count, the company claims to have donated books to more than 1000 children’s libraries in a dozen Chinese provinces and districts. It also has an online library of around 10,000 books with more than 3000 kindergartens registered.
Fancyedu.com completed its USD 10 million Series-A financing led by Amoeba Capital this June.