The deal would value the Temasek-backed travel platform at more than $2bn.

Mafengwo, a Chinese online travel service that counts Singapore government agency Temasek among its previous investors, is planning a $300m fundraising round, Reuters has reported.

The transaction would value the business at between $2bn and $2.5bn, according to insiders. In December, Mafengwo raised $133m in a series D round that involved Temasek, General Atlantic and Ocean Link.