Journey Education announced on May 5 that it has raised 20 million yuan in the latest investment round led by Chuang Ke Xing (“创客星”), and hinted that it is planning to apply for a listing on the New Third Board this November.
The latest investment inflates the company’s valuation to nearly 200 million yuan. The company netted 3.8 million yuan from its Pre-A round of financing last February, in which Guangdong Merchant Venture Capital Limited was the lead investor.
As schools are the biggest users of study tours, Journey Education, operating on a B2B2C model, has been cooperating with several schools in Guangdong province, a region that it focuses on. In the first half of this year, Journey Education provided tour reception to 600 students, 50% more than the same time last year, and generated more than 10 million yuan in revenue. The company with over 2,500 host families, 70 camps and 200 travel service providers overseas has handled overseas study tours for 800 students in the first half of this year. Its total revenue for this year is expected to reach 65 million yuan.(Translated by Claire)
