Leasing Platform JIMI QIZU Gets $42M Funding Round From State-Owned Beijing Cultural Investment Development Group

    Categories: Investment

Hangzhou-based JIMI QIZU, a leasing platform for office-using, announces that it has secured RMB300 million (US$42.4 million) in a funding round led by Chinese state-owned Beijing Cultural Investment Development Group Co., Ltd., according to Chinese online publication iyiou.com.

The round comes less than six months after the company completed tens of millions of RMB in a series A funding round.

JIMI QIZU’s leasing business mainly covers IT equipment leasing, IT equipment on-site repair service and IT equipment recycling, leading to a close-loop in the industry by the mode of "leasing + operation and maintenance + recycling".

By renting instead of buying office equipment, companies could reduce one-time capital investment and save cash flow. Companies, especially SMEs (small and medium-sized enterprises), can reduce the risk of fixed assets investments and realize the asset-light business model which is helpful to move faster and to get long-term sustainability.

By controlling the cost of equipment, companies can invest more money in marketing and other places.

JIMI QIZU announces that it has provided service for more than 500 enterprises, and its partners includes Alipay, Apple, Lenovo, Dell, Ant Financial, etc.

Proceeds will be used to increase its service efficiency, to cover more cities and to diversify its business service, said the company’s founder and chief executive officer Xi Meng.

Xi said, "JIMI QIZU has always been focusing on constructing an intelligent ecosystem based on IT equipment leasing business service. However, IT equipment leasing is not the only service the firm can provide in the future. The company has made some achievements in integrating resources and building a complete enterprise service ecological chain. JIMI QIFU’s ultimate goal is to help companies reduce costs and increase efficiency."

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