180 million yuan! Cross-border e-commerce SaaS platform Jijia completes Series A financing

Cross-border e-commerce On July 5, Jijia, the fastest growing service provider in the SaaS field, announced the completion of a RMB 180 million Series A financing, led by Yunshi Capital, followed by eGarden ventures, Harvest Investments, Hony Capital, Zhonglin Capital and other funds, Yunqi Capital, Zhuopu Investment and other old shareholders, and Guangyuan Capital served as the exclusive financial advisor. This round of financing will be used for talent, product and service upgrades, market system construction and other aspects.

This is the second time that Jijia has received financing in three months, and it is also the largest A-round financing in the cross-border e-commerce SaaS field to date , showing that investors highly recognize Jijia. Li Zhengwei, executive director of Guangyuan Capital, said that the market generally believes that Jijia has fast growth , excellent products and a strong team , and Jijia is expected to become one of the most valuable service providers in the cross-border e-commerce SaaS field.

Focus on key customers and grow 7 times in 5 months

Zhang Huajun , founder and CEO of Jijia, has extensive experience in cross-border e-commerce and ERP products and founded Jijia in 2017. He once served as the IT director at Anker Innovations and accumulated rich Amazon e-commerce seller resources and experience in the subsequent entrepreneurial process.

Currently, there are more than 400,000 Chinese companies active in overseas e-commerce markets such as Amazon, and this number is still growing. According to Marketplace Pulse data, in January this year, Chinese sellers accounted for 75% of Amazon's new sellers. At the same time, as competition intensifies and platform rules are constantly adjusted, the advantages of top sellers and boutique sellers are becoming more and more obvious.

Zhang Huajun believes that in the early stages of cross-border e-commerce, the competition was about control over platform rules, and now it is about to compete in product innovation, and will soon enter the stage of competing in brand power .

With rich industry experience and advanced cognition, Jijia has positioned itself in the field of medium-sized and large-scale boutique sellers since its inception, focusing on serving medium-sized and large-scale boutique sellers with annual sales of over 100 million yuan, and developed Jijia ERP based on their operational needs and internal management structure .

With 15 years of technology accumulation and 4 years of product refinement, and by embedding the experience of billion-level sellers from 0 to 1 into products, Jijia products have been favored by medium and large sellers as soon as they were launched. Currently, Jijia has served nearly 1,000 medium and large cross-border e-commerce sellers, achieving more than 3 times growth for three consecutive years , and recently achieved 7 times growth in 5 months.

At present, Jijia has also expanded its product line to small and medium-sized sellers ( SMB), supporting more sellers to grow and become medium and large brand sellers.

Well-informed about the pain points of overseas business, customer retention rate reaches 96%

While the performance is growing rapidly, Jijia products have an excellent reputation and have achieved an excellent user retention level. Currently, Jijia’s customer renewal rate exceeds 96%, far exceeding the industry average of 60%-80%; the average customer price is 5 times the industry average.

Jijia believes that the three common characteristics of current and future brands going global are product innovation , supply chain management and refined operations . Product innovation is the key to a brand finding its value positioning, supply chain management is the key to reducing costs and increasing efficiency, achieving information sharing, and starting brand transformation, and refined operations are the key to achieving long-term success.

Based on a deep understanding of business logic, Jijia products have achieved "flow correlation" among data flow, information flow, business flow, and capital flow , helping companies to "see" clearly, "manage" intelligently, and "calculate" accurately in the process of brand cross-border expansion.

Through real-time data statistical models, Jijia products can conduct all-round data analysis and display, providing enterprises with accurate data decision-making basis; by linking all aspects such as new product development, operation and sales, advertising strategy, customer service management, supply chain, financial accounting, etc., Jijia realizes real-time control and intelligent early warning, allowing enterprises to conduct standardized full-process management more intelligently, more efficiently and faster; by embedding well-known financial systems, Jijia products can synchronize financial data safely and accurately, allowing enterprises to timely and accurately control store operations, and the income, cost, expense and profit data are clearly visible, truly helping enterprises to achieve business and financial integration.

"We must understand the industry and customers, become customers' consultants, and even guide customers to continue to grow in business, so that entry-level sellers can grow into professional sellers, and professional sellers can grow into super sellers." Zhang Huajun said when talking about Jijia's competitiveness and industry development trends, "Overseas e-commerce has gone through the stage of extensive growth driven by low prices, and has now entered the era of refined operation and management driven by products. E-commerce merchants' acceptance of service providers is rapidly increasing. Both platforms and consumers expect e-commerce merchants to be sufficiently focused and achieve innovation in products and services. In the next three to five years, we will see product-based and brand-based e-commerce companies blooming everywhere, and their scale will increase several times, just like Tmall and JD.com each have more than 300,000 brand merchants. In recent years, platforms such as Walmart, eBay, and AliExpress have also begun to advocate the boutique model. Our product system that serves boutique model merchants on the Amazon platform is expected to become a sample for these platform merchants, which will further expand Jijia's service territory."

At present, Jijia has established more than 20 operation centers in first- and second-tier cities across the country , localizing the locations and providing professional guidance to help customers succeed.

Yunshi Capital believes: "Thanks to China's strong supply chain capabilities, talent dividends, continuous R&D investment, innovation capabilities and sound digital infrastructure, a group of brands with global influence will emerge in China in the next 5 to 10 years. Unlike the previous generation of brands, they are born with global and digital genes (Born Global, Digital Native), and Jijia will closely coexist with them in this process and become a platform and engine for Chinese brands to go global."

Mao Chengyu, founding partner of Yunqi Capital, said: "With the rapid growth of new formats and models of China's foreign trade, cross-border e-commerce has become an important direction for the transformation and upgrading of foreign trade. The trend of cross-border sellers' transformation to high-quality products and digital iteration is becoming more and more obvious. The multiple growth of Jijia's SaaS revenue is due to the team's organizational ability and product understanding ability. We are optimistic about its leading position in the field of cross-border e-commerce digitalization and continue to provide customers with full-chain intelligent empowerment."

Shao Nan, founding partner of Zhuopu Investment, said: "In just a few months, the Jijia team quickly completed the process of landing and surpassing in volume, and their combat effectiveness is amazing. This once again proves the theory that people are more important than things in early-stage investment projects. We continue to be optimistic about and support the Jijia team."

Li Zhengwei, executive director of Guangyuan Capital, believes: "The cross-border e-commerce track is a long and thick snow track. After four years of continuous product polishing, Jijia has grown rapidly in the first half of 2021, while maintaining extremely good customer retention and product satisfaction. I believe that Jijia will be able to build a full-scale cross-border boutique seller service ecosystem in the future, continue to take product experience as king, and promote Chinese products and brands to go overseas."

Financing

Cross-border e-commerce

Seller