Chinese local travel service platform Yaochufa announced that the company has received RMB 550 million in its series D round financing from investors including UTour, Kingding Investment and China Capital Management.
The Guangzhou-based short-haul travel platform was established in August 2011, mainly offering local tour packages covering accommodation, attraction admission and dining, with a number of options for local road trips and destination services.
The company received its series A round funding from Innovation Works in December 2011 and its B round funding from Innovation Works and Vertex Ventures in December 2013. In December 2014, the company received its C-round financing from Sequoia Capital, Tiantu Capital, Vertex Ventures and Innovation Works.
Yaochufa offers local tour services in southern, eastern and northern parts of China as well as Hong Kong and Macao. The tour packages cover around 50 domestic and regional destinations. The platform provides nearly 10 million users with over 70,000 travel products from almost 6,000 suppliers, and the services are available in 26 provinces and 160 cities in China.
Unlike other integrated platforms, Yaochufa specializes in offering packaged tours of one to three days, using major metropolis or capital cities as bases to cover destinations nearby. , Yaochufa differentiates itself from other DIY tours by Qiongyou (“穷游”) and Beibaoyou (“背包游”) by offering high-quality and low-cost weekend tours.
The company hopes to seamlessly connect supply and demand to tackle the problem of limited and homogenized choices of weekend family tours in urban areas as well as help attractions customize activities for visitors, thus generating higher revenue.
Disclaimer: The financing information in this article is provided by Yaochufa. ChinaTravelNews has no independent means of verifying the data, and hence shall not be held liable for any consequences arising from inaccuracies of the data provided by Yaochufa. (Translated by Jerry)