Unicorns 222/229 – Mofang Gongyu

Unicorns 222/229 – Mofang Gongyu


Mofang Gongyu

Mofang, headquartered in Shanghai, China, is the largest institutional rental apartment company in China with projects across all tier one cities and select tier two cities across China. The company rents its apartments to white collar, college educated residents with an attractive average monthly income and also provides value-added services to them. Mofang currently operates over 150 apartment complexes in major Chinese cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Wuhan, Suzhou, Hangzhou, Chengdu and Xi’an.

Employees: 50-100

Mofang Gongyu, is one of the largest institutional rental apartment companies in China with projects across all tier one cities and select tier two cities across the country. The company rents its apartments to white collar, college educated residents with an attractive average monthly income and also provides value-added services to them.

China-based rental apartment operator Mofang Gongyu or Mofang Apartment has raised $300 million in a Series C round, according to a press release.

The round was led by China-based financial conglomerate AVIC Trust, and saw participation from a subsidiary of Warburg Pincus, a global private equity firm focused on growth investing.

Warburg Pincus is also an existing investor of Mofang. Founded in 2009, Mofang is said to operate 150 apartment complexes in 15 Chinese cities.

It owns 25,000 apartment units that service close to 40,000 tenants. Its apartments are said to come with amenities like gyms and cafes that cater to a young, urban demographic. Mofang intends to introduce new products and sub-brands into the market to cater to different needs in the rental market including a premium brand of larger for-rent apartments targeted at senior professionals and mid-level managers, and a less costly group-renting apartment model for junior workers in the service industry. It also has plans to operate 300 apartment complexes by end-2016, it said in the release.