Chinese apartment rental platform Danke Gongyu is buying iShangzu, a housing asset management platform, for $200 million.
Following the close of the deal, iShangzu’s assets and shares will be combined with Danke Gongyu.
This will bring the number of assets on Danke’s platform to about 400,000 items across 10 first-tier cities as well as emerging prime areas.
In June last year, Danke Gongyu raised $70 million in a Series B+ funding round led by U.S. investment firm Tiger Global Management.