PE Daily, 8/11/17
Changchun-based Jicanchu Network Technology, operator of B2B kitchenware e-commerce platform Jicanchu.com, announced today the completion of RMB 12 mln in angel funding from Amphora Capital. The funding will primarily be used for platform construction, market expansion, and supply chain integration, said Jicanchu founder and CEO Zhang Jie.
Jicanchu is a commercial kitchenware procurement platform, which operates both a combined self-operated and third-party B2B e-commerce platform and offline O2O service center. Jicanchu provides restaurants with one-stop services, including kitchenware procurement, fast-moving consumer goods purchasing, localized delivery, and after-sales services. Jicanchu's self-operated business has 800 SKUs, covering kitchenware, catering supplies, and tea sets.
Jicanchu has 200 suppliers on the platform, and nearly 20,000 small and mid-sized clients in the food services industry. Average customer order is in the RMB 800 to RMB 2,000 range, and the platform boasts more than 90% repeat purchase rate. Since its formal launch in May 2016 to June 2017, Jicanchu has generated more than RMB 83 mln in sales revenue.
Jicanchu is planning to launch a second-hand commercial goods store to facilitate trading and replacement of kitchenware, according to Zhang. The company is also looking to offer an installment payment plan to help restaurants.