Travel services company, Universal Travel Group, Inc. (OTCBB: UTVG) has closed a $7.11 million financing deal with investors. The private placement financing totaled 4.8 million shares at a purchase price of $1.55 per share.

The money will be used for general corporate development with specific attention relating to online integration. A news release says investing companies were those familiar with China investment opportunities, including Chinamerica Fund LP, Access America Fund, Pope Investments II LLC, Heller Capital, and Investment Hunter, LLC.

”Given the value of other public travel services providers,” said Christopher Efird of Access America, “we believe that Universal Travel Group is one of the Chinese companies in the space with the most potential to build on its current platform to provide premium services to consumers and build significant franchise value for its shareholders.”

This further interest is on top of a 5-million shares purchase on Aug. 14 from a non-management shareholder by