On December 25, 2017, Tiebaobei, the comprehensive online construction machinery service platform, announced that it raised more than 50 million US dollars in Series C+ round. This round of financing was led by Grand Flight Investment and followed by China Broadband Capital and the construction group of Far East Horizon. DCM, Genesis Capital and Qiming Venture Capital that were the investors in the company’s prior round all invested again and China Taihecap was the exclusive financial advisor.

In this deal, which was different from the previous rounds, Tiebaobei introduced a strategic investor - Far East Horizon for the first time, which will have a positive and far-reaching impact on Tiebaobei’s future business development in the construction machinery industry.

Founded in 2009, the company started its portal website with second-hand machines as the entry point for transactions. At the same time, it provided services such as loans that users repay in installments to buy machines and value-added guarantee that addressed users’ pain points in the transaction process. It has become a high-quality comprehensive service platform empowered by the Internet for construction machinery.