China-based household services platform eJiaJie, which counts internet company Tencent as an investor, has been approved for a listing on China’s National Equities Exchange and Quotations (NEEQ), China Money Network reported today.
Founded in 2012, eJiaJie has created an app for homeowners to book household services such as cleaning.
Tencent provided $650,000 in seed capital for eJiaJie in 2013 before returning in 2014 to support a $4m series A round alongside online entertainment company Shanda. The company then secured an undisclosed amount in a February 2015 series B round led by DT Capital.
The company raised an undisclosed amount in a Tencent-backed series C round in July, with Tencent participating through its Win-Win Fund. The series C round also featured DT Capital, CDH Investments, DFJ and a range of unnamed investors, including a China-based brokerage firm.
Tencent currently holds a 12.9% stake in eJiaJie, making it the largest institutional shareholder in the company, which revealed it made a loss of RMB30m ($4.6m) during the first seven months of 2015, but it expects to break even this year.