Tujia.com, the so-called Chinese version of Airbnb, has completed its Series D funding, raising $300 million.
The 4th round of funding has made its overall valuation at more than 1 billion U.S. dollars, but it is still a small fraction compared with U.S.-based Air B&B which is valued at over 25 billon U.S. dollars.
All-Stars Investment and domestic smartphone maker Xiaomi joined the latest round of financing.
Established in 2011, Tujia conducted its first round of fund-raising in May, 2012.
The company says it will officially launch the Customer to Customer (C2C) business, allowing consumers to do rental business directly.
Meanwhile, Tujia also plans to set up new branches overseas by the end of this year.
Besides China, the vacation rentals site also targets overseas markets including Thailand and South Korea.
