China's Ofo in talks to raise new financing of more than $1 billion - co-founder

MOSCOW (Reuters) - Chinese bike-sharing startup Ofo is in talks to raise new financing of more than $1 billion, its co-founder Pinjie Yang told Reuters after an Ofo presentation in Moscow on Friday.

"Yes, it can exceed $1 billion," Pinjie Yang said, via a translator. He declined to disclose what banks were involved in the talks.

(Reporting by Denis Pinchuk; writing by Polina Devitt; editing by Christian Lowe)