Ctrip-backed hotelier LvYue secures funding from Tencent and Goldman Sachs
11/18/2019|4:05:31 PM|KrAsia

Online travel giant LvYue Group, which is backed by Trip.com, formally known as Ctrip, has snagged several hundred million USD in Series A and A+ round financing as Trip.com’s largest online travel agency keeps diversifying its business by going beyond travel booking and expanding into the hotel management sector, local tech media 36Kr reported today.

Tencent, Sequoia China, Baidu Capital, and Goldman Sachs led the investment with Ocean Link, CITIC Trust, Oriza Ventures, and CAISSA Travel being the co-investors.

LvYue said in a statement today that it would utilize the fresh funding to expand in the domestic market while accelerating the pace of globalization, and explore new possibilities driven by its internet big data capabilities.

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