Tianjin-based Aladdin International Education recently has raised several million yuan in an angel round of financing from Qihong Venture capital and several independent investors. Hu Chunli, the founder and CEO of Aladdin, released that the fund will be used for talent recruitment, product development, and market expansion.
Founded in July 2019, Aladdin provides one-stop study abroad services. Its main business includes language training, study abroad application, career improvement, overseas asset allocation, etc. Amid the pandemic, Aladdin quickly transformed all its business online, from teaching to customer acquisition. Since this July, Aladdin gradually resumed its business offline and began to make profits.
“Since the outbreak of COVID-19, the industry of study abroad has been affected to a certain extent, and the market reshuffle has been accelerated. But for those who regard studying abroad as a rigid-demand, there won’t be any fundamental changes. This round of financing also confirms the market's confidence.” Said Hu Chunli.