Haoqipei

About Haoqipei

Haoqipei, also known as Shanghai Shangze Information Technology Co. Ltd., operates as a business-to-business marketplace specializing in auto spare parts within China's expansive automotive aftermarket. The company was established in 2016 by founder and CEO Chen Xi, a serial entrepreneur with a background in digital marketing and mobile technology. Chen identified the highly fragmented and inefficient nature of the auto parts industry as an ideal environment for an internet-based transformation.

The firm's core business revolves around a technology-driven online trading platform that directly connects auto repair shops with auto parts suppliers. This model addresses the traditional market's pain points of information asymmetry and complex trading processes. Auto repair shops can post their procurement needs on the platform, and in response, suppliers provide competitive quotes. This quote-and-recommendation system is a key feature, differing from standard e-commerce search-and-buy models to better handle the complexity and vast number of stock-keeping units (SKUs) in the auto parts sector. The company's revenue is generated through SaaS service fees, procurement service fees, and charges for logistics services.

Haoqipei has developed a comprehensive service ecosystem to support its marketplace. This includes a multi-platform online trading SaaS system, credit and payment tools, and offline infrastructure such as warehousing and logistics services. The company does not hold its own inventory or operate as a direct seller, instead focusing on facilitating transactions and earning commissions and spreads through order dispatching and dynamic pricing. To ensure customer satisfaction and build trust, Haoqipei stations local teams in new cities to assist users, ease the delivery and return processes, and provide services like supplier background checks and product quality inspections.

Since its inception, Haoqipei has demonstrated significant growth, backed by substantial venture capital funding. The company has successfully completed multiple funding rounds, raising over $150 million in private capital. Its Series D round in June 2019, led by Access Technology Ventures, raised $60 million. Other prominent investors include DCM Ventures, Jeneration Capital, Redpoint China Ventures, Shunwei Capital, and SIG. These funds have been allocated towards national market expansion, strengthening the supply chain, and developing infrastructure to enhance transaction and service efficiency across the industry. As of 2019, the platform's operations extended to over 100 cities across several provinces in China.