CHINA – Whales English, a Beijing, China-based brand of online K-12 English group classes, completed its RMB100m Series B financing.
The round was led by Sino-Ocean Group Holding Limited, with participation from Hike Capital and Fresh Capital. The company intends to use the funds to improve product quality and service efficiency. Led by Tom Wu, CEO, Whales English is an online K-12 English education brand aimed at students aged 3-18 years. The company selects native English-speaking teachers, original American textbook material and implements a “Three-fixed model” strategy (Fixed teacher, Fixed students and Fixed schedule) to help children improve their comprehensive ability of listening, speaking, reading, writing, starting from zero-based English. Through commercial operations, Whales English has achieved positive cash flow in only ten months, and net cash flow throughout 2019. 24/02/2020
