Taodangpu

About Taodangpu

Taodangpu operates as an online information platform for pawnshops, functioning as a bridge between pawnbrokers and consumers in the internet finance sector. The company was founded by Wang Yi, who has a history of multiple entrepreneurial ventures in the internet space, including a mobile game company, a wireless download software firm, and a cosmetics e-commerce business before establishing Taodangpu.

The company's initial focus was on addressing the primary challenge for physical pawnshops: the liquidation of unredeemed, or "juedang," items. Taodangpu began by purchasing these items from pawnshops and selling them through various online channels. This model helped aggregate thousands of offline pawnshop resources. The business then evolved into an information platform, similar to a 'Didi for pawnshops,' where individuals with items to pawn could connect with the nearest suitable pawnshop. The platform earns revenue by charging a service fee as an intermediary in the pawning process.

Recognizing that a significant portion of demand for pawning services, particularly for non-real estate assets ('minpin'), was unmet by traditional pawnshops which largely focus on property, Taodangpu developed its own team of appraisers and a risk control system. This allows them to handle a wide variety of movable assets such as precious metals, jewelry, high-end watches, and even rare sneakers. The company established its own offline stores, which saw rapid growth in loan disbursement. To address capital constraints inherent in the pawnbroking industry, Taodangpu also launched Aidangbao, a P2P investment and wealth management platform, to fund the loans.

The company secured several rounds of funding, including an angel round in January 2013, a Series A of several million dollars in September 2013 from investors including Northern Light Venture Capital and Bluerun Ventures, a $30 million Series B in June 2014 led by Zixin Capital and Bluerun Ventures, and a Series C of tens of millions of dollars in May 2016 from JD Technology.