Whale English completes RMB100m Series A financing round led by Sino-Ocean Capital

Whale English, a provider of an online English education, announced that it has obtained RMB 100 million in Series B financing round. This investment is led by China’s leading alternative asset management institution, Sino-Ocean Capital, with Hike Capital and Fresh Capital participating. TH Capital served as the sole financial advisor.

Whale English, a provider of an online English education, announced that it has obtained RMB 100 million in Series B financing round. This investment is led by China’s leading alternative asset management institution, Sino-Ocean Capital, with Hike Capital and Fresh Capital participating. TH Capital served as the sole financial advisor.

According to Wu Hao, CEO of Whale English, the company will use the proceeds to improve product quality and service efficiency. It will truly be responsible to all paying students and parents, and will still “adhere to the pursuit of teaching results and using users’ recognition to drive growth” The company will not resort to the strategy of celebrity endorsement and burning money for scale.

Whale English is the only online English education brand for youths in the market featuring elite foreign teachers. The company uses North American standard original textbooks to demonstrate the classroom environment of North American primary school classes and meet multi-dimensional learning needs of 3 to 18-year-old students, enabling them to improve English skills and capabilities.

The company commercialized its operations at the end of 2017, achieving positive cash flow in just 10 months. The company achieved net operating cash flow inflows throughout 2019.

In 2018, Whale English became the only company in the online youth English education industry to be selected to carry out a key project of the 13th Five-year Plan by the Ministry of Education.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/whale-english-completes-rmb100m-series-a-financing-round-led-by-sino-ocean-capital/.

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