Danke Apartment Valuation, Funding & Investors

Danke Apartment is valued at $2B as of October 2019.

Last Danke Apartment valuation

$2B

Series D · Oct 2019

Last Danke Apartment funding round

$190M

Series D · Oct 2019

Cumulative funding Danke Apartment raised

$875M

across 5 funding rounds

Key investors in Danke Apartment

  • Joy Capital
  • CMC Capital Group
  • Gaorong Capital
  • Tiger Global
  • Vision Plus Capital
  • BAI capital

Danke Apartment Overview

About Danke Apartment

Danke Apartment is a Beijing-headquartered apartment rental platform managing over 320,000 units in major Chinese cities including Shanghai, Shenzhen, and Hangzhou. The company offers furnished long-term leases with integrated utilities, cleaning, and maintenance via its app. Danke Apartment partners with property owners for standardized renovations and employs IoT devices for smart home features. Founded in 2015, it dominates the student and young professional rental market with rapid urbanization driving expansion.


Founded

2015

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Valuation

$2B (Oct 2019)

Danke Apartment Valuation

Danke Apartment is currently valued at $2B, based on its Series D in October 2019.

The $190M round was led by CMC Capital Group and Primavera Capital Group.

Danke Apartment's valuation has grown 2.0x from $1B at its Series B in June 2018 to $2B in October 2019, across 3 priced rounds.

Danke Apartment valuation by funding round

Danke Apartment valuation by funding round
DateStageValuation
Oct 2019Series D$2B
Feb 2019Series C$2B
Jun 2018Series B$1B

Danke Apartment Funding History

Danke Apartment has raised a total of $875M across 5 funding rounds.

Danke Apartment's first fundraising round was a $15M Series A in June 2017. The most recent completed round was a $190M Series D in October 2019.

Danke Apartment funding rounds

Danke Apartment funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2019Series DCMC Capital Group (lead); Primavera Capital Group (lead)$190M$2BDanke Apartment is a Beijing-based long-term apartment leasing platform founded in 2015, operating in major Chinese cities like Beijing, Shanghai, Guangzhou, and Shenzhen. It uses mobile apps, AI, and big data to transform the traditional rental market, providing renovated, furnished apartments for white-collar workers, recent graduates, and potentially blue-collar workers, managing around 400,000 units after acquiring Ai Shang Zu. The model slices larger family apartments into smaller units to make premium neighborhoods affordable while handling maintenance and housekeeping. The queried Series D round occurred on October 29, 2019, with CMC Capital Partners and Primavera Capital Group investing approximately $100M and $90M respectively, totaling around $190M, as per IPO filings. Danke's prior Series C in March 2019 raised $500M led by Tiger Global and Ant Financial, with participation from Primavera Capital, CMC Capital, Gaorong Venture Capital, and Joy Capital, valuing the company over $2B post-money. Earlier rounds included a Series B+ in June 2018 led by Tiger Global ($70M) and Series B in early 2018 co-led by CMC and Gaorong ($100M). By late 2019, major shareholders included Tiger Global (20%), Joy Capital (15.7%), CEO Jing Gao (14.2%), and others like CMC (9.4%) and Primavera (6.5%). Funds from rounds supported AI-driven rental systems, operational efficiency, government collaborations for price stabilization, apartment upgrades, and expansion. Traction showed strong growth: revenue nearly tripled year-over-year to $699M for the first nine months of 2019, though net losses rose to $352M. Danke filed for an IPO in early 2020 raising $129.6M, planning to enhance technology and apartment supply, competing with leaders like Ziroom managing over 800,000 units.
Feb 2019Series CAnt Group (lead); Tiger Global (lead); Joy Capital; Gaorong Capital; Primavera Capital Group; CMC Capital Group$500M$2BDanke Apartment is a Beijing-based technology-enabled apartment management company that operates an innovative 'new lease' model, sourcing apartments from landlords, refurbishing them to standardized quality, and leasing them to tenants through an online platform across multiple Chinese cities. The company focuses on long-term rentals, emphasizing operational efficiency, user experience, and scalability, holding the second-largest market share in China's long-term rental apartment industry as of 2019 with over 400,000 rooms under management, reflecting a CAGR of 360% since 2015. On February 28, 2019, Danke Apartment raised $500 million in a Series C funding round co-led by Ant Group (Ant Financial) and Tiger Global Management, with participation from Joy Capital, Primavera Capital Group, Gaorong Capital, and CMC Capital Group. The post-money valuation reached $2 billion following the transaction. This hypergiant round built on prior funding of $184.7 million across earlier CNY and USD-denominated venture rounds, supporting rapid expansion to 13 tier-1 and tier-2 cities. Later 2019 performance showed strong growth: first nine months revenue at CNY 5 billion (up 198.8% YoY) or approximately $699 million, with full-year estimates around $1 billion (CNY 7.1 billion). The company reported significant losses, such as CNY 2.516 billion for the first nine months of 2019, driven by aggressive scaling. Post-Series C, Danke continued fundraising, including $100 million and $90 million from CMC and Primavera in late 2019, and filed for a $100 million NYSE IPO in October 2019 to fund expansion, technology enhancements, and working capital. Investors like Ant Financial and Bertelsmann were positioned for potential exits. The firm earned industry recognition for its business model and brand influence in 2019-2020.
Jun 2018Series BTiger Global (lead); Regent Capital; Joy Capital; Gaorong Capital; Vision Plus Capital; BAI capital; CMC Capital Group$70M$1BDanke Apartment (also known as Danke Gongyu or Eggshell Apartment) is a Beijing-based online long-term apartment rental platform founded in early 2015, using mobile apps and big data to transform China's traditional rental market for white-collar workers in cities like Beijing, Shanghai, Guangzhou, and Shenzhen. By June 2018, it had aggregated over 120,000 apartments across eight cities and aimed to reach 300,000, with plans to expand into more first-tier cities. The company operates by standardizing apartments into co-living style units with amenities, handling leasing, renovations, and management to provide transparent, efficient rentals powered by AI-driven pricing algorithms. In June 2018, Danke Apartment closed a $70 million Series B+ funding round led by Tiger Global, with participation from existing investors including BAI Capital (Bertelsmann Asia Investments), CMC Capital Group (China Media Capital), Gaorong Capital, Joy Capital, Vision Plus Capital, and others like Youjin Investment Management and Regent Capital equivalents. This followed a $100 million Series B in February 2018 led by Gaorong Capital and CMC Capital, and earlier rounds including a Series A in June 2017. The funds from the June 2018 round supported aggressive expansion, adding apartments and entering new markets, as the company grew from 2,000 employees in May 2018 to over 5,000 by late that year. Danke focused on operational efficiency through data-driven systems for transactions, pricing based on market factors, and full-service management including utilities and maintenance. Post-2018, Danke continued scaling, acquiring rival iShangzu for $200 million in January 2019, boosting listings to 400,000 homes. It raised a Series C round in early 2019 ($500 million co-led by Tiger Global and Ant Financial) at over $2 billion valuation, nearing a rumored $1.5 billion pre-Series C value in December 2018. The company positioned against fragmented offline rentals by digitizing operations, similar to WeWork's model but for urban renters, amid China's push to modernize housing. It later pursued an IPO in 2020 but faced challenges in the rental sector.
Feb 2018Series BCMC Capital Group (lead); Gaorong Capital (lead); Regent Capital; Joy Capital; Vision Plus Capital; BAI capital$100M-Danke Apartment is a Beijing-based co-living platform founded in 2015 that allows tenants to rent entire apartments or individual rooms in shared units, targeting young professionals and white-collar workers across major Chinese cities. The company operates as a data-driven accommodation service platform using an internet plus real estate plus finance model, sourcing residences from property owners and managing them to meet quality standards. In February 2018, Danke Apartment raised $100 million in a Series B round co-led by China Media Capital (CMC) and Gaorong Capital (then known as Banyan Capital), with participation from Bertelsmann Asia Investments, Vision Plus Capital, Joy Capital, and Youjin Capital. At the time of the Series B raise, the company managed more than 60,000 apartments across seven megacities including Beijing, Shenzhen, Shanghai, Hangzhou, Tianjin, Wuhan, and Nanjing. Following this round, the company achieved significant growth, nearly tripling revenue to CNY 7.1 billion (approximately $1 billion USD) in 2019, and going public on the NYSE in January 2020 after a $500 million Series C in March 2019 that valued it at over $2 billion.
Jun 2017Series AJoy Capital (lead); Kaiwu Capital; Ucommune International$15M-Danke Apartment (Danke Gongyu) is a Chinese apartment rental platform that aggregates apartments targeting young white-collar workers in cities like Beijing, Shanghai, and Guangzhou. In June 2017, it raised RMB 100 million (approx. US$15.6 million or $14-14.7 million) in a Series A round led by Joy Capital, with participation from Ucommune (Ucommune International) and Kaiwuhuadeng (Kaiwu Capital). This followed its founding in January 2015 and preceded later rounds including a $100 million Series B in February 2018 and $70 million Series B+ in June 2018 led by Tiger Global.

Who has invested in Danke Apartment?

11 investors have backed Danke Apartment across its funding rounds, including Joy Capital, CMC Capital Group, Gaorong Capital, Tiger Global, Vision Plus Capital and BAI capital.

Lead investors include CMC Capital Group, Primavera Capital Group, Ant Group, Tiger Global, Gaorong Capital and 1 other investor.


Danke Apartment Investors

Investors in Danke Apartment by funding rounds participated
InvestorHQRoundsRoleFirst check
Joy CapitalChinaBeijing4LeadJun 2017
CMC Capital GroupChinaShanghai4LeadFeb 2018
Gaorong CapitalChinaBeijing3LeadFeb 2018
Regent CapitalChinaShenzhen2ParticipantFeb 2018
Primavera Capital GroupChinaBeijing2LeadFeb 2019
Vision Plus CapitalChinaHangzhou2ParticipantFeb 2018
Tiger GlobalUnited StatesNew York City, NY2LeadJun 2018
BAI capitalChinaBeijing2ParticipantFeb 2018
Ant GroupChinaHangzhou1LeadFeb 2019

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Acquisitions by Danke Apartment

Danke Apartment has acquired 1 company to date.

Last acquisition by Danke Apartment was on January 18th 2019. Danke Apartment acquired iShangzu for $200M.


Latest Acquisitions by Danke Apartment

iShangzu
Description
iShangzu is a Hangzhou-based platform for housing asset management, providing services such as property maintenance, leasing, interior design, and housing trusts. Founded in 2015, the company was acquired by Danke Apartment in 2019.
HQ CountryChina
HQ City
Hangzhou
Deal Date18 Jan 2019
Valuation$200M
EV/Revenue
EV/EBITDA

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Investments by Danke Apartment

Danke Apartment has invested in 1 company to date.

Latest investment by Danke Apartment was on March 6th 2017. Danke Apartment invested in REALY in their $2M Series A round.


Latest Investments by Danke Apartment

REALY
Description
REALY is a manufacturer of point-of-care diagnostic devices for rapid medical testing. Its products analyze blood samples for conditions like diabetes and infections, delivering results in minutes for use in clinics and hospitals worldwide.
HQ CountryChina
HQ City
Hangzhou
Deal Date6 Mar 2017
RoundSeries A
Raised$2M
InvestorsBioclub; Haibang Capital; YMC Investment
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Danke Apartment Competitors

Danke Apartment competitors include listed companies like Ingenia Communities, IWG and Opendoor, and private ones like Mofang Gongyu, Roofstock and HomeLight.

Public and private companies comparable to Danke Apartment
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Ingenia CommunitiesAustraliaAustraliaPublicly listed$391M$137M$1.2B4.6x
Mofang GongyuChinaShanghaiPrivate--$1B-
RoofstockUnited StatesSan Francisco, CAPrivate--$1.9B-
IWGSwitzerlandSwitzerlandPublicly listed$3.8B$487M$2.2B2.5x
HomeLightUnited StatesPhoenix, AZPrivate$300M-$1.7B5.7x
OpendoorUnited StatesUnited StatesPublicly listed$4.4B($1.1B)$2.5B0.9x

Danke Apartment Public Comps

Danke Apartment is still privately-owned, but its public comps include Transcorp Hotels, EIH, Scandic Hotels, Chalet Hotels, Genting Malaysia, Poly Property Services, Kangwon Land, Kyoritsu Maintenance, Petrokent and BTG Hotels Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Transcorp Hotels$73M$29M28.4x-71.4x-
EIH$306M$107M6.1x5.8x17.5x17.0x
Scandic Hotels$2.3B$657M2.9x2.6x9.9x23.4x
Chalet Hotels$289M$126M7.4x8.1x17.1x18.3x
Genting Malaysia$2.9B$722M1.8x1.6x7.3x7.2x
Poly Property Services$2.6B$354M0.1x0.1x0.8x0.8x
Kangwon Land$1.1B$330M----
Kyoritsu Maintenance$1.8B$224M1.5x1.5x11.5x11.4x

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Common questions about Danke Apartment

When was Danke Apartment founded?Danke Apartment was founded in 2015.
Where is Danke Apartment headquartered?Danke Apartment is headquartered in Beijing, China.
Is Danke Apartment publicly listed?No, Danke Apartment is a private, VC-backed company.
What is Danke Apartment's valuation?Danke Apartment was last valued at $2B in its Series D in October 2019.
How much funding has Danke Apartment raised?Danke Apartment has raised $875M across 5 funding rounds.
What was Danke Apartment's last funding round?Danke Apartment's last funding round was a $190M Series D in October 2019, led by CMC Capital Group and Primavera Capital Group.
Who are Danke Apartment's investors?Danke Apartment's investors include Joy Capital, CMC Capital Group, Gaorong Capital, Regent Capital, Primavera Capital Group, Vision Plus Capital, Tiger Global, BAI capital, Ant Group, Kaiwu Capital and 1 other.
Which companies are comparable to Danke Apartment?Companies comparable to Danke Apartment include Ingenia Communities, Mofang Gongyu, Roofstock, IWG, HomeLight and Opendoor.
How many companies has Danke Apartment acquired?Danke Apartment has acquired 1 company, including iShangzu.
What was the largest acquisition by Danke Apartment?The $200M acquisition of iShangzu in January 2019 is the largest acquisition Danke Apartment has made to date.
How many companies has Danke Apartment invested in?Danke Apartment has invested in 1 company, including REALY.
What was Danke Apartment's last investment?In March 2017, Danke Apartment invested in REALY's $2M Series A alongside Bioclub, Haibang Capital and YMC Investment.

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