Tiantu leads Series B for China home renovation platform
Consumer-focused GP Tiantu Capital has led a Series B round of funding for Mei Jia Bang, a Chinese start-up that provides online interior design solutions.
The funding round was completed at the end of last month, the company told 36kr. Financial details weren't disclosed.
Operated by Xiamen Mei Jia Bang Technology, the mobile app Mjbang.cn was launched in September last year. It connects construction services providers and consumers. The company has also hired an in-house design team and established partnerships with 10 construction material brands to provide interior design solutions.
The start-up secured seed funding from Capital Nuts in December of last year, and it raised $8 billion Series A round from Oriental Fortune Capital in January. In May, Tencent Holdings provided an extensive round of funding.
Mei Jia Bang claims that about 500,000 users have downloaded its app every month since launch, and 170,000 of them have requested renovation services. With the new funding, the company plans to enter 20 Chinese cities by the end of this year, and 60 cities by 2016.
Similar transactions include To8to, an interior decoration service platform that raised $200 million from Sequoia Capital, Matrix Partners China and classifieds online marketplace 58.com. Prior to that, Shunwei Capital Partners led a RMB60 million ($9.6 million) Series A round of funding for Ikongjian.com, an interior finishings site.
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