Danke Apartment Raises Approximately $500 Million in Series C Funding, Long-Term Rental Sector Enters Era of Refined Operations | Gaorong Ventures News
Make renting truly simple and joyful
As China's urbanization deepens, the government has proposed establishing a long-term mechanism that gives equal weight to renting and homeownership. At the same time, younger generations are increasingly demanding higher quality from rental housing. Gaorong Ventures has long been bullish on China's long-term rental housing market. Danke Apartment, a leading domestic long-term rental apartment operator, has been committed to empowering the traditional residential rental industry with internet technology.
Gaorong Ventures was a co-lead investor in Danke Apartment's Series B round and continued to increase its stake in the company's B+ and Series C rounds. Chang Chen, founding partner of Gaorong Ventures, said: "As urbanization brings residents into first-tier and new first-tier cities, quality housing is their greatest consumer need. We feel Danke's promise to 'make renting simple and happy,' and we've seen the company achieve rapid growth while continuously improving product quality. Congratulations to Danke on completing its Series C financing! We believe Danke will provide quality rental experiences to even more users in the future."
Recently, Danke Apartment, a leading domestic long-term rental apartment operator, announced the completion of approximately $500 million in Series C financing. This round was co-led by Tiger Global Management and Ant Group, with Primavera Venture Partners participating as a new investor. Existing shareholders including Gaorong Ventures, CMC Capital, and Joy Capital also continued to invest. Following this round, Danke Apartment's valuation reached approximately $2 billion.
Shen Boyang, angel investor and executive chairman of Danke Apartment, said: "We thank new and existing investors for their recognition and support of Danke Apartment. The long-term rental apartment sector has entered a stage of refined operations. Guided by national policy promoting both renting and homeownership, Danke Apartment will increase investment in operational efficiency, housing products, and service quality, bringing greater convenience and benefits to landlords and tenants alike, and leading industry progress."
Founded in January 2015, Danke Apartment has over four years of development entered ten first-tier and new first-tier cities including Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou. The company has been committed to empowering the traditional residential rental industry with internet technology, revitalizing existing housing stock, truly enabling landlords to be "hands-off" while allowing tenants to "move in with just a suitcase." It provides users with quality residential rental products and efficient, seamless rental experiences, earning broad market recognition for its brand and service.
Gao Jing, founder and CEO of Danke Apartment, said: "This financing will be used in four areas: First, increasing investment in and continuously updating our AI-based big data system for rental housing, achieving internet-based and disintermediated residential rental transactions to improve transaction efficiency. Second, continuing to improve internal system network coordination, raising operational efficiency and lowering costs, while actively cooperating with government efforts to stabilize market rents and truly pass benefits on to consumers. Third, transforming the supply chain system, improving the quality assurance system for renovation and installation, raising housing product quality, while establishing refined service standards to enhance user experience. Fourth, responding to government calls to explore the development of centralized apartments, particularly blue-collar housing."
Gao Jing also stated that regardless of market changes, Danke Apartment consistently adheres to a user-first value system, driving development through data innovation, using quality products and services to truly make renting simple and happy. Going forward, Danke Apartment will continue to respond to government calls, stabilize rent levels, and promote healthy, orderly development of the residential rental industry.
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