It's a big day for entrepreneurs Melissa Yang and Jun Luo
China's largest holiday rental site Tujia netted $100 million in Series C funding yesterday, according to the Wall Street Journal.
Past investors participating include Lightspeed China Partners, GGV Capital, Qiming Venture Partners, CDH, and CBC, says the WSJ. The lead investor wasn't revealed.
HomeAway, the vacation rental giant, also added to its investment in the Beijing-based startup. In 2012, HomeAway partnered to provide listings for international destinations (currently totaling about 60).
China Renaissance Capital, arguably the largest full service investment bank in China, was the only new investor.
Two previous rounds brought in $65 million.
Airbnb, its closest global model, has only about 1,000 listings in China and those are aimed at an English-speaking market -- unlike Tujia, most of whose roughly 500,000 holiday rental homes are located in Asia and are presented in Mandarin.
Tujia also caters more to the preferences of the Chinese market. It has service employees who can help clean up properties.
The main China-native competitor is the smaller XiaoZhu.com, which netted $15 million series B financing this month.
See more at the WSJ post and, previously, Tujia's HomeAway partnership.
EARLIER FROM TNOOZ:Tujia secures Series B funding, total at $64 million as vacation rental market grows fast in Asia