China B2B home decoration materials platform gets Series A

Source Code Capital and Buhuo Venture Capital also took part. These two investors backed the company’s Pre A Series round of RMB20 million($2.9 million) in 2017.

Founded in September 2017, Zhangshangfucai allows clients to buy various kinds of home decoration materials through its mobile app and website or via its hotline. Once an order is placed, client services representatives follow up to confirm the specific needs of the customer, as well as to arrange the delivery. The company has over 100 suppliers and claims to be the largest player in this domain in Beijing, the only city in which it currently operates.

The fresh capital will be used for expansion into other cities, as well as to make improvements to logistics, supply chain and sales efficiency, according to a statement.

China's home decoration materials industry was worth RMB4.18 trillion in 2017, according to Zhiyan, a Chinese consulting firm. It is expected to reach RMB4.5 trillion in 2019, primarily driven by rising property sales number of properties.

Various Chinese B2B trading platforms have received PE and VC funding. Baibu, which specializes in textiles and fabrics,  received the first tranche of a Series C round led by Bull Capital Partners in August. Meanwhile, liquor trading platform Yijiupi closed a $200 million Series D in September from Tencent Holdings and Meituan-Dianping.

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• Topics
• Greater China
• Industrials
• Consumer
• Early-stage
• TMT
• China