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 .
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. Xiaozhu claims to have 500,000 listings across more than 650 cities internationally, and transaction volumes in China's home-sharing market grew 70.6% year on year in 2017 to reach CNY14.5bn ($2.1bn). That figure is expected to climb to CNY50bn in 2020, according to the State Information Center.