Fitness O2O platform Lefit receives USD 45M for Series C
Founder: Han Wei
Founded in: 2015
Financing status: RMB 300 million (USD 45 million) for Series C financing in 2017
Fitness O2O platform, Lefit, received USD 45 million for Series C on October 13 to invest in market expansion plans.
Lefit is a fitness O2O platform dedicated to offering health management and exercise services to enterprise employees, as well as fitness services to young people in cities. As opposed to other O2O platforms, Lefit establishes offline gymnasiums and supports facilities itself, and so far it has became the largest O2O fitness platform in the online industry. Additionally, besides providing customers with annual subscriptions, it also offers monthly subscriptions for RMB 99, which has proven to be a good way to attract customers and coaches.
Founded in 2015 in Hangzhou, Lefit’s services cover eight cities in China, with more than 200 offline gymnasiums. Moreover, the company has attracted over 3000 coaches for its fitness services.
This new financing round was led by Hillhouse Capital Group, with existing investors, Huaxing Capital and IDG, participating as investors. The capital will be used to invest in market expansion plans for more customers, as well as facilitate its services to follow the ‘New Retail’ trend.
Part-time service platform QTSHE receives USD 9M for Series B
Founder: Deng Jianbo
Founded in: 2013
Financing status: RMB 60 million (USD 9 million) for Series B financing in 2017
Part-time service platform, QTSHE, received USD 9 million for Series B on Oct. 16 to solidify its business model and expand to more cities.
QTSHE is a part-time service platform that mainly connects university students with part-time jobs, such as shopkeeping at a hamburger joint, livestreaming on an app, and even “liking” a company’s social media posts. Students or users can sign up and browse different job opportunities on QTSHE’s app, as well as get connections to the company. Moreover, companies can download QTSHE’s app and post job opportunities and track applications. Additionally, QTSHE will check the authenticity of the jobs and companies, as well as provide users with supportive services.
Founded in 2013 in Hangzhou, it has serviced more than two million students, supporting them with part-time service. Meanwhile, there are over 2000 enterprises on its platform posting job opportunities. It charges enterprises RMB 5 once users apply for their jobs. It has been profitable in Hangzhou, and plans to copy its business model in more cities across China.
QTSHE grabbed this Series B financing round led by Ants Capital, with Baixing.com and other individual investors participating as investors. The company plans to use the funds to recruit more talents to promote its services in more cities.
(Top photo from 699pic.com)