COLDSKY – China’s leading real estate service provider E-House China has invested 10 million yuan ($1.54 million) in the angel round of fundraising for Xiaoma Kuaizhuang, which offers fast, modular decoration solutions for long-term rental apartments, according to 36kr.com.
Established in 2011, Xiaoma Kuaizhuang has 50 construction teams and 300 team managers, with a slogan of “Innovative Techniques and Fast Decoration for Youth Community” on its website. It decorates rooms like using Lego bricks, according to media reports.
Rising prices and fewer affordable homes have led to a booming residential rental market in China. Startups are offering tiny but well-equipped apartments catering to young people in Beijing, Shanghai and Guangzhou.
Xiaoma Kuaizhuang said it now cooperates with over 20 apartment franchises, including V+Space International Youth Community, and decorated more than 5,000 apartment rooms in one year, regenerating revenues of 100 million yuan.