MoBike

Existing users will be able to get a refund of their deposits as the company’s service also gets integrated

Dozens of the app’s customers have complained on social media about the lack of available bicycles

The deal was announced on Wednesday but the value of the deal was not disclosed

Ofo and rival Mobike are the two biggest Chinese companies offering bike-sharing services

The company has operations in around 100 Chinese cities and has raised over $900 million since October

With the latest injection the firm has raised over $900 million since October

Beijing plans to limit total number of shared bikes

MoBike, backed by Chinese internet giant Tencent Holdings among others, closed a $100 million funding round this month