Chinese start-up Danke Apartment has been valued at $2bn after raising $500m in a series C funding round, led by new investor Ant Financial and existing backer Tiger Global Management. Danke is maximising the boom in rental property in China, offering small but fully-furnished urban housing to office workers and college graduates, alongside housekeeping and maintenance services. The company says it will be able to offer more than 10,000 units of affordable housing, with rents starting from $450 per month.
Chinese start-up Danke Apartment has been valued at $2bn after raising $500m in a series C funding round, led by new investor Ant Financial and existing backer Tiger Global Management. Danke is maximising the boom in rental property in China, offering small but fully-furnished urban housing to office workers and college graduates, alongside housekeeping and maintenance services. The company will use the funds to upgrade its AI-backed digital data processing system, which oversees rental transactions, improve its apartment amenities and tenant experiences, and explore entering the blue-collar worker market.