The Asian Venture Capital Journal has reported that Temasek and Hillhouse led the round, with participation from existing investors Morningside Venture Capital, Banyan Capital, Shunwei Capital Partners and GGV Capital.
Aiwujiwu is a rental and second-hand home listing portal that functions as a virtual agent. Users can utilise location-based visualisation and searches, as well as perform transactions such as bookings. Their revenue model involves charging a 1 per cent commission for home sales while the rental services are free.
It allows mainland Chinese home seekers to purchase or rent properties in top-tier cities within China, with property listings for Beijing, Shanghai, Shenzhen and Guangzhou.
According to AVCJ, this brings the total funding raised by Aiwujiwu to $350 million, which is notable for a venture was was only launched in March 2014. Its co-founders are three three former executives from Tudou.com, a Chinese online video platform that merged with industry peer Youku in 2012.
Morningside Venture Capital provided a Series A round of funding in June 2014, while Banyan Capital participated in a Series B round in September 2014, December 2014 saw Shunwei Capital Partners, Morningside and Banyan lead the Series C round. May this year saw their Series D round, led by GGV and Morningside.
Post-series D, since May Aiwujiwu expanded into the secondary housing market and to date has grown its team to 16,000 employees distributed across more than 10 cities, who conduct background checks on all projects prior to an online listing.
According to China News, the the company has claimed to have seen sales of nearly 6000 apartments through its platform.