Tiebaobei

About Tiebaobei

Tiebaobei, operating under the full name Beijing Tiejiabao Technology Co., Ltd., is a comprehensive online service platform focused on the construction machinery industry in China. Founded in 2009 by Fan Jianshe, the company initially launched as a portal and forum centered around second-hand machinery transactions. This strategic entry point allowed the company to address significant pain points for users in the transaction process by incorporating services such as installment loans for machine purchases and value-added guarantees.

The company's business model revolves around a C2C (consumer-to-consumer) online marketplace for used construction equipment, including excavators, loaders, and pump trucks. Tiebaobei facilitates the entire transaction process, providing listing services, value estimations, and a network of city managers who offer in-person support and viewing assistance to build trust between buyers and sellers. By creating a more transparent and efficient market, the platform has grown significantly, with a reported monthly transaction value exceeding 300 million RMB and over 400,000 pieces of equipment listed on the platform. Revenue streams are likely generated from transaction fees, financial services, and other value-added services offered to its user base.

Tiebaobei has successfully attracted significant venture capital investment to fuel its growth. Its funding history includes a Series A from Qiming Venture Partners in 2013, a Series B of 100 million RMB led by DCM with participation from Qiming in 2015, a Series C of $30.9 million led by Genesis Capital in 2016, and a Series C+ round of over $50 million in December 2017. The Series C+ round was led by Grand Flight Investment and included strategic investor Far East Horizon, signaling a move to deepen its business development within the industry.