The bike rental company was started in 2016, two years after trailblazers Mobike and Ofo (the latter went bust in 2019). It is now China’s largest bike-sharing firm, with business in over 360 cities across the country. An electric bike rental service is also available in 260 cities and the company has also been operating carpooling services since 2019. What sets it apart from its initial rivals is that it mainly targets lower-tier and smaller cities, where public transportation systems are often less developed.

Helloglobal Tech boasts 400 million registered users and it has completed 14 rounds of financing with investors that include Ant Financial, Fosun Group, GGV and Weimar Motors.

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