Jia.com Raised USD 160 Million with Hina as Exclusive Financial Advisor
Recently, the largest domestic O2O furniture sales company Jia.com announced to finish its Series D fundraising round of USD 160 millions. It is reported the largest fundraising in the O2O furniture industry till now, as well as largest in the Chinese capital market since 2015 Chinese New Year. Hina Group served as exclusive financial advisor for the round.
Jia.com, founded in 2005, is a leading e-commerce platform focused on decoration, building material and furniture market. According to the Company, it has owned 50 city branches, 8 million registered members, 40,000 decoration companies, building material and furniture provider, attracted 250,000 famous designers and provided decoration solutions to 8.25 million customers by Dec 2014.
As it reported, Jia.com got its first investment from Suzhou Zhongxin Capital in 2007, followed by GF Xinde Investment in 2009, and CDH fund and Baidu in 2010. In Nov 2011, Jia.com invested RMB 414 million in A share listed company Seagull Kitchen and Bath Products Co (Ticker: 002084) and became its second largest shareholder. In 2013, the trading volume on Jia.com reached RMB 20 billion compared to 3.2 billion in 2009, with market share of over 30%. The advantage in non-standard customized products is especially obvious.
Huajing Deng, CEO of Jia.com, said:"This round of financing will firstly be used to expand business in 2nd and 3rd tier cities in China; secondly build a elite team, especially at the Mobile terminal; finally dig for the business opportunities in the segments to complete a business circle so as to give customers more transparent price, better quality products and more reliable service."
According to iResearch, the trading volume of the O2O decoration and furniture market reached RMB 119.7 billions in 2014, nearly 50% more than 2013, but only accounts 8% of the (whole house decoration and furniture market). It indicates that there is huge space for O2O market to grow with many business opportunities.