Chinese renovation materials trading platform raises $18m

Founded in 2013 and also known as Xiaopangxiong, the company claims to be a leader in the decoration materials supply chain, primarily working with interior decorators. It has 68,000 registered users, of whom 45,000 have made purchases on the platform. The company stocks 12,000 different product types from over 100 brands.

Little Bear hopes to benefit from the slowdown in China's property market, driven by a government keen on reining in prices, because it encourages the industry to focus more on cost-cutting. Like many B2B trading platforms, Little Bear uses technology to aggregate demand and supply in fragmented markets, making it easier to find pricing information and streamlining the procurement process.

“In China, the upstream manufacturers of renovation materials and the end-users are very disconnected. There are numerous small businesses taking the role of midstream players which makes the whole supply chain inefficient. Little Bear brings efficiency to the industry.” said Zhengye Yao, a founding partner of Immensus Capital.

Zhangshangfucai, a B2B platform focused on home decoration materials, raised $8 million in Series A funding led by ZhenFund last year. Source Code Capital and Buhuo Venture Capital also took part.

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• Topics
• Greater China
• Early-stage
• Real estate
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• China
• Matrix Partners
• Yunqi Partners
• TMT