The Chinese, L.A. based co-living start-up Tripalink has raised another US$10 million in a series B round of financing, according to two China based publications. A follow-up A+ round of US$5 million was announced in March of this year led by Calin SJG Fund, L.P, with the participation of K2VC, eBroker, and Tekton Ventures. Total funding (including the B round) stands at US$18 million since its founding in 2016.
By end of 2019, the company expects to have bed space for 3,000. Tripalink CEO Donghao Li went straight from the University of Southern California and into founding Tripalink, based on his LinkedIn profile. The coliving brand focuses on smaller single and multi-family residential spaces. Rentals are currently available in Los Angeles, Pittsburgh, Seattle, Philadelphia, Austin, Irvine, San Francisco, New York City, Boston, and Phoenix.
“Incorporating the co-living concept, Tripalink is able to design, operate, lease and manage the single-family, multi-family properties and apartments catering to millennials’ need. Whether you want to upgrade your building, or you need us to help you start a brand-new project, or just want to invest in one of our existing projects, work with us to achieve higher returns!” From the website.
Tripalink uniquely caters to Chinese audiences. The website is available in English and Mandarin.
Up to now, Tripalink has served over 4,000 millennials, with an average renewal rate amounting 75 percent.
Read more about Tripalink’s B round here (premium content).