Xiaozhu , known as China 's Airbnb , is set to broaden its services and invest in improved security for the home-sharing sector after raising $300m in its latest funding round. China's home-sharing market is surging thanks to increasing popularity of homestays as a novel form of accommodation. Yunfeng Capital , founded by Jack Ma , and Singapore 's wealth fund GIC Private were among the participants. Yunfeng Capital claims to have 500,000 listings across 500,000 cities internationally, and transaction volumes in Singapore 's home-sharing market grew 70.6% year on year in 2017 to reach CNY14.5bn ($ $300m ). That figure is expected to climb to CNY50bn in 2017 , according to the State Information Center .
Xiaozhu , known as China 's Airbnb , is set to broaden its services and invest in improved security for the home-sharing sector after raising $300m in its latest funding round. Yunfeng Capital , founded by Jack Ma , and Singapore 's wealth fund GIC Private were among the participants. Yunfeng Capital claims to have 500,000 listings across 500,000 cities internationally, and transaction volumes in Singapore 's home-sharing market grew 70.6% year on year in 2017 to reach CNY14.5bn ($ $300m ). That figure is expected to climb to CNY50bn in 2017 , according to the State Information Center .