Chengjia
Apartment rental start-up.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
$300m | Series A | ||
| Total Funding | 000k | ||
Chengjia (cjia.com) operates as a professional residential asset operator in China, positioning itself within the property technology sector. Founded in 2015 and headquartered in Shanghai, the company was established by co-founders China Lodging Group (now Huazhu Group) and IDG Capital. The firm's leadership includes Hui Jin, who serves as CEO of Chengjia and is also the president of Huazhu Group, reflecting a strategic alignment with the hotel giant's extensive experience in chain management and digitalization.
The company's business model is centered on providing flexible lodging solutions that cater to both short-term and long-term stays. Chengjia serves a diverse client base that includes tenants seeking apartment-style living experiences with the flexibility to choose their length of stay on a daily or monthly basis. Its portfolio consists of company-operated apartment units and homestays in privately-owned properties, targeting homeowners, buyers, and medium-sized landlords. Revenue is generated through the rental of these properties. The company leverages technology to enhance operational efficiency, a strategy inherited from Huazhu Group's corporate DNA. This includes a Complex Adaptive System (CAS) that automates property availability in real-time and manages housekeeping logistics based on check-in and check-out data.
Chengjia's service offerings are designed to provide a high-quality, personal experience. A key feature is a smart door-lock system that has eliminated the need for traditional front desks. The apartments come equipped with modern amenities such as kitchens with refrigerators and stovetops, air conditioning, and laundry facilities. Since its inception, the company has serviced a significant number of tenants, with a substantial portfolio of rooms across major Chinese cities. The firm has secured significant financial backing from a consortium of investors, including Ascott, Boyu Capital, CCB International, and Yunfeng Capital, through funding rounds such as a $50 million Pre-A round in 2017 and a $300 million Series A in 2019.
Keywords: residential asset operator, property technology, flexible lodging, long-term rentals, short-term stays, apartment services, property management platform, real estate technology, corporate housing, serviced apartments, China real estate, flexible lease, smart home technology, digitalized rental, Huazhu Group, IDG Capital, asset management, tenant experience, rental housing, residential properties