LOS ANGELES, March 21, 2019 /PRNewswire/ -- In March,
Tripalink, a start-up focusing on building Co-living
communities, raised $5 million
in its Series A+ funding round, marking the second time completion
of funding within six months. This funding round was led by Calin
SJG Fund, L.P, with the participation of K2VC, eBroker, and Tekton
Ventures.
"The funds will be used for upgrading our products and services,
as well as expanding the market," says CEO Donghao Li.
As a Chinese start-up in Los
Angeles, Tripalink, linking the eastern and the western
culture, advantaged with its deep understanding of the
international rental market. Its rapid growth is to a large extent
the result of the insight into the great market potential and firm
belief in the value of connectivity fostered by Co-living
community.
In 2019, millennials are expected to take up the largest
percentage of the living adult population, with their numbers
increasing to 73 million (Fry, 2018). For this generation in
the United States, Co-living is
the trendiest lifestyle in recent years. While ensuring the
personal private space, a Co-living community also provides
spacious and versatile common areas to fully meet the residents'
demands in social interaction.
"Compared to hotels and traditional student apartments,
Tripalink's high-quality one-stop service to free all our residents
from chores and set their mind at ease. The Co-living community
environment will also offer our residents a supreme living
experience," Li introduces.
Currently, Tripalink has two main products: U-Living and
V-Living. With a long-term cooperation with experienced real estate
developers and homeowners, Tripalink provides high-quality and
personalized U-Living units. Up to now, Tripalink has served over
4,000 millennials, with an average renewal rate amounting 75
percent. Two V-Living projects have been finished, while 13 more
projects are under construction. It is expected that by the end of
2019, the number of the bedspace available will exceed 3,000, and
at least 10 new V-Living apartments will be delivered for use. By
far, Tripalink has expanded its business in Pittsburgh and Seattle, and it will enter Austin and Philadelphia within this year; the number of
all community members is foreseen to reach 20,000 in 2020.
"Los Angeles is where we set
off, the destination is yet to come."
Media Contact
Chanron
Phone: 323-382-6375
Email: chenglong@tripalink.com
Related Images
tripalink-co-living-community.jpg
Tripalink Co-living Community
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SOURCE Tripalink