Putiandi, a Shanghai, China-based one-stop platform for short-term site rental services, raised 90m yuan (approx. US$13.6m) in Series A financing.
Backers included Eastern Bell Venture Capital, PGA Fund and GoHigh Fund, which co-invested 60 million yuan, and Meridian Capital, which contributed the remaining 30m yuan.
In July 2016, the company had received 20m yuan in pre-A funding, led by GoHigh Fund.
Putiandi intends to use the funds to optimize the overall experience when navigating its platform for short-term commercial rentals, and further leverage the huge databases that store the information on the availability of commercial space, enabling businesses that are in the process of socializing their brands by conducting innovative pop-up marketing campaigns.
Established in September 2015 by Yi Zongyuan, Putiandi provides a pop-up site rental platform, which accesses the short-term availability of commercial space on the thousands of databases maintained by shopping malls and retail space operators, and makes that space available to businesses looking for opportunities to promote their brand. The space, which can be anywhere in China’s many shopping malls and plazas and can be leased by the day, the week or the month, allows brand marketers to launch pop-up events so that they can sell their products, develop customer leads, promote their brand or conduct market research.
Putiandi also provides data on the level of traffic passing through the selected venue, the persona of shoppers that make up that traffic, and a profile of that persona’s shopping and other offline activities. The platform offers access to a Saas marketing system featuring offline interaction with followers, recruitment of followers, customer relations management (CRM) and management of WeChat-based shops, allowing brand marketers to integrate both online and offline experiences and build a “pop-up store” model fully optimized for the new retail era.
The company, which also has branches in Beijing, Shenzhen, Guangzhou and Suzhou, with business in more than 40 cities throughout China, has signed strategic partnerships with nearly 3,000 shopping malls.
Putiandi has almost 1,000 strategic brand partners, including BMW, Bosch Home Appliances, Dyson, Electrolux, Mercedes-Benz, Nestle, Philips, Siemens and Wrigley, among other global brands, as well as China’s leading internet players, including Baidu Map, Baozun.com, Dianping.com, JD.com, Lily&Beauty and Xiaomi, in addition to a large number of startups based all over the world.