Chinese bicycle-sharing startup Mobike expands into Japan

Chinese bicycle-sharing startup Mobike expands into Japan
PHOTO: Reuters

SHANGHAI - Chinese bicycle-sharing startup Mobike has set up a subsidiary in Fukuoka city in northern Japan and plans to begin service later this year, it said on Thursday.

The move into one of Japan's largest cities marks the latest overseas venture for the firm, which has already launched services in Singapore and the UK.

The company has operations in around 100 Chinese cities and has raised over $900 since October.

"The company is committed to providing smart bike-share services in collaboration with local governments across Japan," the company said in a statement, but did not provide details on its investment.

Mobike, whose backers include Tencent and Sequoia, has 100 million users and supports roughly 25 million rides a day.

Its top competitor, ofo, raised $450 million (S$625 million)  in May from a range of investors including Chinese ride-sharing service Didi Chuxing.

The firm's app lets users scan QR codes on Mobike-branded bicycles, allowing them to unlock, use and pay for rentals on-demand.

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