Despite the COVID-19 outbreak taking a heavy toll on the travel and culture industry, Shanghai-based cultural travel operator Xband Club announced on February 22 that it had landed RMB 200 million in its series B funding led by Trustbridge Partners.
Trustbridge Partners is a Chinese private equity investment fund founded in 2006. It manages assets worth a total of nearly USD 10 billion, mainly related to medical care, education, the Internet and culture and tourism sectors.
Xband Club specializes in developing rural townships near suburban areas. The company designs, plans and builds characterful towns that integrate modern agriculture, leisure tourism and the rural communities, as well as rural cultural tourism projects.
It also provides a full chain of services on developing and operating alternative accommodation. Xband Club has launched short-term rental brand Xband Ideal Village, design brand Zhu Shengxuan Design Workshop, boutique homestay brand Yuan She, Pu She, Tong Nian and Shu Wa, family-friendly theme park Green Land, as well as construction company Xband Maple Bridge.
In March 2018, the company received RMB 63.5 million in its series A funding round from CYTS Hongqi Fund, co-founded by CYTS, Sequoia and IDG. (Translated by Elena)