# Mafengwo funding: rounds and investors > Mafengwo has raised $418M across 6 rounds since 2011. Investors include Qiming Venture Partners, Capital Today and General Atlantic. Source: https://millionrounds.com/company/mafengwo (Millionrounds; every figure on the page links to its filing or article) China · [Funded startup](https://millionrounds.com/companies) # 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 summary Updated 26 Oct 2026 **$418M** raised across 6 rounds since 2011, from 6 sources **$5.0M** Seed **$15M** Series A **$15M** Series B **$133M** Round **$250M** Round - **Latest round:** Round, $250M May 2019 - **Led by:** Tengxun Touzi - **Step-up i:** 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. 2013 2015 2017 2019 **$5.0M** Seed **$15M** Series A **$15M** Series B **?** Series C **$133M** Round **$250M** Round - **First round:** Seed, $5.0M - **Biggest round:** $250M - **Usual gap between rounds:** 17 months ## The rounds - **May 2019** Round **$250M** *1 new* *2 returning* [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) Lead [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) [General Atlantic](https://millionrounds.com/fund/general-atlantic) Reported by Caixinglobal - **Dec 2017** Round **$133M** *6 new* *2 returning* [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) [Temasek Holdings](https://millionrounds.com/fund/temasek) [General Atlantic](https://millionrounds.com/fund/general-atlantic) [Capital Today](https://millionrounds.com/fund/capital-today-group) [Ocean Link](https://millionrounds.com/fund/ocean-link) Hillhouse Houpu Yuantai Changqing Reported by China Money Network - **Mar 2015** Series C **Amount undisclosed** *2 new* *1 returning* [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) [Coatue](https://millionrounds.com/fund/coatue-management) [Hillhouse Capital Group](https://millionrounds.com/fund/hillhouse-capital-group) From a historical funding record - **Apr 2013** Series B **$15M** *1 new* *1 returning* [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) [Capital Today](https://millionrounds.com/fund/capital-today-group) From a historical funding record - **Sept 2012** Series A **$15M** No investor was named in the report. From a historical funding record - **Oct 2011** Seed **$5.0M** *1 new* [Capital Today](https://millionrounds.com/fund/capital-today-group) 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. **Seed** 2011 **Series A** 2012 **Series B** 2013 **Series C** 2015 **Round** 2017 **Round** 2019 [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) [Capital Today](https://millionrounds.com/fund/capital-today-group) [General Atlantic](https://millionrounds.com/fund/general-atlantic) [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) L [Coatue](https://millionrounds.com/fund/coatue-management) [Temasek Holdings](https://millionrounds.com/fund/temasek) [Hillhouse Capital Group](https://millionrounds.com/fund/hillhouse-capital-group) [Ocean Link](https://millionrounds.com/fund/ocean-link) Hillhouse Houpu ## Everyone who backed them [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) VC firm **4** rounds [Capital Today](https://millionrounds.com/fund/capital-today-group) VC firm **3** rounds [General Atlantic](https://millionrounds.com/fund/general-atlantic) Private equity **2** rounds [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) VC firm **1** round, led 1 [Coatue](https://millionrounds.com/fund/coatue-management) VC firm **1** round [Temasek Holdings](https://millionrounds.com/fund/temasek) VC firm **1** round [Hillhouse Capital Group](https://millionrounds.com/fund/hillhouse-capital-group) Private equity **1** round [Ocean Link](https://millionrounds.com/fund/ocean-link) Private equity **1** round Hillhouse no record of our own yet **1** round Houpu no record of our own yet **1** round Yuantai Changqing no record of our own yet **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=mafengwo). ## 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.com](https://millionrounds.com/fund/ly-com) Corporate VC Per 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. ## Companies like Mafengwo In the same sector, and raised in the last eighteen months. [**ByteDance** $33B · Sept 2026](https://millionrounds.com/company/bytedance)[**Whop** $400M · Oct 2026](https://millionrounds.com/company/whop)[**Blackwall** $162M · Oct 2026](https://millionrounds.com/company/blackwall)[**Tolan** $30M · Oct 2026](https://millionrounds.com/company/tolan)[**Welltory** $4.0M · Oct 2026](https://millionrounds.com/company/welltory)[**Overtime** $33M · Oct 2026](https://millionrounds.com/company/overtime) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app