(Yicai Global) April 13 -- Shengshi Modian Beijing Information Technology Co., the firm behind Neisha, an online sharing platform for consumer electronics, has raised millions of dollars in A+ funding as it looks to improve its services and expand.
Ant Financial Services Group, the fintech affiliate of China’s largest online retail firm Alibaba Group Holding Ltd., contributed to the round, online news outlet 36Kr reported.
Neisha allows users to hire or rent out a range of goods, including cameras, drones, smartphones and other devices. It targets young consumers who want to use the latest technology but can’t afford to buy the products, or helps those who own the items make money from them.
The firm has managed to quickly grow its user base thanks to its partnerships with Ant Financial, e-commerce marketplace Taobao and travel service provider Alitrip, all owned by Hangzhou-based Alibaba.
Editors: James Boynton