China · Funded startup

Who invested in Mafengwo

6 rounds we have observed, with the 11 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Internet

Valuation: $2.0B, Mar 2026

Funding summaryUpdated 26 Oct 2026

$418Mraised across 6 rounds since 2011, from 6 sources

$5.0MSeed$15MSeries A$15MSeries B$133MRound$250MRound
Latest round
Round, $250MMay 2019
Led by
Tengxun Touzi
Step-upi
1.9×
Investors
11 (1 led)
See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2013201520172019
$5.0MSeed$15MSeries A$15MSeries B?Series C$133MRound$250MRound
First round
Seed, $5.0M
Oct 2011
Biggest round
$250M
Round · May 2019
Usual gap between rounds
17 months
the median of 5

The rounds

  1. May 2019
  2. Dec 2017
    Round$133M6 new2 returning

    Reported by China Money Network

  3. Mar 2015
    Series CAmount undisclosed2 new1 returning

    From a historical funding record

  4. Apr 2013
    Series B$15M1 new1 returning

    From a historical funding record

  5. Sept 2012
    Series A$15M

    No investor was named in the report.

    From a historical funding record

  6. Oct 2011
    Seed$5.0M1 new

    From a historical funding record

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Everyone who backed them

Capital TodayVC firm3rounds
General AtlanticPrivate equity2rounds
Tengxun TouziVC firm1round, led 1
CoatueVC firm1round
Temasek HoldingsVC firm1round
Hillhouse Capital GroupPrivate equity1round
Ocean LinkPrivate equity1round
Hillhouseno record of our own yet1round
Houpuno record of our own yet1round
Yuantai Changqingno record of our own yet1round

Missing a round, or an investor who was in one? Tell us.

Also claim to have backed them

This firm lists Mafengwo as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above.

ly.comCorporate VCPer its own site

Quick answers about Mafengwo

Who invested in Mafengwo?

Mafengwo's investors include Qiming Venture Partners, Capital Today, General Atlantic, Tengxun Touzi and Coatue, and 6 more on record. Tengxun Touzi led its latest round.

How much has Mafengwo raised?

Mafengwo has raised $418M across 6 rounds since 2011. One round did not disclose an amount, so the total is a floor.

When did Mafengwo last raise?

Mafengwo's most recent round was an Undisclosed round of $250M in May 2019, led by Tengxun Touzi.

What was Mafengwo's biggest round?

Its most recent round, $250M in May 2019, is also its largest on record.

Who backed Mafengwo first?

Mafengwo's first round on record, in Oct 2011, was backed by Capital Today.

What stage is Mafengwo at?

Mafengwo's latest named round is an Undisclosed round, in May 2019.

Where is Mafengwo based?

Mafengwo is based in China.

Who led Mafengwo's rounds?

Tengxun Touzi led the Undisclosed round in 2019.

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