Neisha (内啥) has closed its A+ funding round, raising tens of millions of yuan from Alibaba’s financial affiliate Ant Financial.
Neisha provides individuals with rental services for electronic equipment such as cameras, drones, smart devices and cool play stuff. The platform is innovative in two ways: it gives consumers access to high-end 3C electronics (Computer, Communication, Consumer Electronics) at low cost by also offering those who own the items to hosting and rental services.
With the rapid development of 3C electronics, the idea of creating ways for young people to use the latest technology is becoming more and more popular. Neisha has established partnerships with Ant Financial, Alibaba’s e-commerce marketplace Taobao and travel service provider Alitrip for user acquisition, and has gained a large number of users since then, as stated by Neisha CEO YANG Wei.
In April, Neisha’s registered user base was less than 10 thousand, but by August, has grown to 7 million. Growing at a relatively exponential rate, the user base is expected to reach 10-20 million in the future.
Neisha maximizes the values of 3C electronics by providing their owners with hosting and rental services. Those users are called “Dong Jia” (hosts or masters). If viewed as some kind of financial product, said Yang Wei, the service can bring an annual rate of return of 30%-40%. Neisha extracts 20% of the rent as its profits.
Sharing economy has gone through numerous challenges in the domestic market. While the attitudes of consumers were at first only “intrigued”, it is becoming more and more positive. According to public data, the capital sunk in the field of sharing rental market was 18.3 billion yuan (approximate US$2.9 billion) in 2017, 30 times higher than the data recorded in 2015.
3C market plays a pivotal role in the sharing economy, with a rapidly growing number of players who offer rental services. From now on, the way to survive and develop in the competitive market has become one of Neisha’s most critical tasks. As announced by the company, it is going to improve its service and expand.