[ Ofo raises $700M in Series E ]

Ofo has raised $700 million in Series E funding.

Founded in 2014, Ofo  operates as a web and mobile based bicycle sharing platform that allows users to search, book and pay for bicycle rides.

Going forward, the company said it plans to grow its fleet to over 20 million bikes. It recently expanded overseas into the UK, having already added the U.S. and Singapore, and it plans to grow to cover 200 cities before the end of 2017.

Funding  Series E
Founded  2014
Country  Cina
City  Haidian, Beijing
Founder / CEO  Dai Wei
Deal Size  $700M
Investors  Alibaba
 CITIC PE
 Didi Chuxing
 DST Global
 Hony Capital
Previous Investors  Ant Financial
 Macrolink Group
 CITIC PE
 Didi Chuxing
 DST Global
 CITIC Heavy Industries
 Jingwei Investments
 Coatue Management
 Atomico
 Beijing Hualian Group