Exclusive interview on financing of 500million in

2022-08-16
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Three years of 500 million financing, exclusive interview with Yidian rent Ji Pengcheng: the IT equipment under rent is broken, and the 4-hour door-to-door repair solution

three years of 500 million financing, exclusive interview with Yidian rent Ji Pengcheng: the IT equipment under rent is broken, and the 4-hour door-to-door repair solution

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original title: three years of 500 million financing, exclusive interview with Yidian rent Ji Pengcheng: the IT equipment under rent is broken, and the 4-hour door-to-door repair solution

with the upgrading of social consumption and the rapid development of enterprise light assets, there are, clothing A series of rental platforms such as intelligent hardware, luxury goods and even toys. Whether it's consumption concept or lifestyle, the new leasing economy is potentially opening the oil return valve to make the piston fall back, which has a tacit impact on people's lives. Compared with the C-end leasing mode that pays more attention to product price, the enterprise consumers of the b-end leasing mode consider more dimensions. In addition to the basic price factors, hidden costs such as management and operation are also important considerations for enterprises. For enterprises that provide b-end leasing services, the test lies not only in products and services, but also in perseverance and endurance

Author: Yu Han

source: Investor (id:touzijias)

in an office building located in Xierqi rented by Yidian, on one wall of the staff office, a huge red banner reads "customer first, pursuit of perfection, seeking truth from facts". A few words that seem simple are the most incisive corporate culture that this Internet office leasing enterprise has summed up by feeling the stones over the years

with these simple corporate culture, Ji Pengcheng, the founder of e-point rent, led e-point rent to complete five rounds of financing in only three years, with a total of 500 million yuan, making the valuation of e-point rent more than 200 million US dollars

Ji Pengcheng, who founded two companies before graduation, did not expect that e-point rent would develop so fast, let alone create a domestic and even global office computer rental model. E-point rent not only independently developed a complete set of equipment and services suitable for enterprises, but also provided enterprises with a full range of IT equipment solutions

the picture shows Ji Pengcheng, the founder of e-point rent.

in two office buildings with nearly 1000 people, when investors saw Ji Pengcheng, he was communicating with colleagues in the procurement department. Casual dress on weekdays can see the low-key characteristics of his personality. In March 2018, e-point leasing just completed the c-round financing invested by source capital, Shun Wei capital, Jingwei China, etc. How did e-point leasing come to this day when it entered the stage of rapid development

After graduating from Tsinghua University with a doctor of automation, Ji Pengcheng did not choose to work directly, but continued to work on his entrepreneurial project - the sale of second-hand office equipment, which he had long studied. It was more than ten years since he started this business. At that time, it became the only company in China that could renovate computers and provide ultra long-term warranty, which laid the foundation for his second business

2 being able to complete the control function with a delicate body and abandon the connection of PC. in 2015, Ji Pengcheng was confused about how to let more people use my computer and came up with the idea of renting office equipment. Ji Pengcheng discussed the second venture with his roommate, Master Zhang Bin, when he was in college. In less than twoorthree months, Yidian rent went online

before e-point leasing, no enterprise in the world used the Internet to provide equipment leasing services to the b-end. Ji Pengcheng created a new leasing business model in a real sense, which he believed was very relevant to China's national conditions. "China is a large manufacturing country, and has natural advantages in China's leasing economy."

the mode of easy point rent is a very typical leasing economy. Although the leasing business has long been formed, few people apply the leasing service to the consumption field for the first time. The leasing economy in the consumption field is divided into enterprise consumption (2b) and personal consumption (2C). When the sharing economy is hot, 2C entrepreneurship has been popular, such as sharing bicycles, sharing power stores, etc

but for the 2B end leasing service, the demand of enterprises is more rational, the demand is also more complex, and the threshold of entry is relatively high, such as whether there is a very perfect infrastructure, whether professional services can be provided, etc., which is also the reason why no one is willing to get involved in the enterprise end leasing economy for a long time. "This field is a great test of entrepreneurs' technical foundation and service ability," Ji Pengcheng said

Ji Pengcheng believes that leasing can bring great value to enterprises: "First of all, at the asset level, enterprises can rent office equipment to make the company's assets more flexible and use them on demand; second, for enterprise managers, especially business owners, this method saves money, worry and trouble, and the enterprise can operate assets lightly; third, without occupying cash flow, enterprises can invest funds in more important businesses; finally, at the personnel level, professional people do professional work Enterprises can only do their most professional things. "

it is the technological foundation accumulated in the first venture that makes easy point rent have owned its own factory at the beginning of its establishment. In the words of Ji Pengcheng, "the prototype of our factory has been presented on the first day of entrepreneurship." In addition, I have accumulated some experience in the maintenance and renovation of office equipment during my first venture. These skills and equipment foundation are indispensable to the ability of e-point to provide subsequent leasing services

the self operated renovation factory of Yidian has been added bit by bit since its inception. At present, the self built factory has been expanded to Beijing, Shanghai, Guangzhou and other cities, and the equipment failure rate is no more than 5 ‰. Although this mode is relatively heavy, it greatly improves the user experience and ensures that problems in the computers and other equipment leased by users can be solved in a timely manner

II

4-hour door-to-door repair solution pay as you rent

in order to provide users with a full range of IT equipment solutions, Ji Pengcheng also launched a 4-hour door-to-door maintenance service in 2018. "People who use computers know that they can't wait for computer maintenance for a moment. The best service that Yidian rent can do is to report for maintenance, and our engineers provide 4 hours of free home repair."

problems should be solved immediately. This is Ji Pengcheng's principle for it equipment leasing services. No matter for the first time or for the second time, he always believes that the essence of an enterprise lies in what products it provides, whether the products can solve customers' problems, and how to make the best of its products and services, which determines the life and death of an enterprise

now, service teams have been established in Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou, Wuhan, Chengdu, Nanjing, Xi'an and Tianjin, which can achieve on-site repair and solution within 4 hours. The on-time rate of on-site repair is more than 99%, and the proportion of 4-hour solution is more than 80%

from the beginning of the establishment of the company, all equipment leases on the e-point rental platform have adopted the deposit free strategy. This is also due to the financial background of Zhang Bin, another partner of the team, which not only makes the team form a strong financial risk control system, but also sets up a risk control department to score the enterprise's credit data in real time and give the enterprise a certain amount of deposit free

at present, it has served 20000 enterprise customers in total, and the total number of leased equipment has reached 300000, and the bad debt rate is no more than 1%. "For easy rent, the biggest cost is equipment."

although Yidian rent has now balanced its profits and losses, in Ji Pengcheng's view, improving user experience is the essence of Yidian rent's business model

for a long time, e-point leasing has always been dominated by long-term leasing, and generally signed two to three-year contracts. In order to enrich the user experience, Ji Pengcheng also launched the "new computer with rent" in 2018. The new desktop computer with rent is also as low as 85 yuan, so as to ensure the level of the instrument, and the annual use cost is 1000 yuan

in addition, Ji Pengcheng found that for large companies, the biggest headache for administrators and asset managers is how to better manage the company's assets. The traditional and simple way is to use Excel to count the fixed assets of enterprises, and complex asset entries often greatly reduce work efficiency. To this end, e-point rent independently developed and launched the enterprise asset management platform e-point, which is also the enterprise SaaS software independently developed by the e-point rent team, which can help enterprises manage assets more quickly and clearly

III

the penetration rate is less than 5%, and the market potential is huge

in March 2018, e-point leasing announced that it had completed a c-round financing of US $32million. After this round of financing, Ji Pengcheng plans to continue to improve the efficiency of IT services, cover more cities with 4-hour door-to-door business, and accelerate the expansion of national marketing business, including the most fundamental core competitiveness of establishing maintenance points and upgrading service capabilities in cities that have not yet established 4-hour door-to-door service

not long ago, e-point leasing and DBI consulting jointly released the "2018 China computer leasing market strategy and forecast report", in which the survey results show that the current characteristics of China's computer leasing market are as follows: "the market potential is huge, and the penetration of office PC leasing is less than 5%. Compared with the penetration rate of 59% in the overseas market, there is still much room for development in the future."

Ji Pengcheng also saw this huge blue ocean market and strengthened the business model of easy rent. The report also shows that China's PC rental market is now in a market state with a high degree of monopoly, and the competition in the industry has shown a rapid squeeze and share competition in the short term

in the current PC rental industry, e-point rental has occupied 77% of the long-term rental market and is in the leading position in the industry. Ji Pengcheng believes that such achievements can be achieved thanks to the early entry of easy point rent into the PC equipment rental market; On the other hand, e-point rent pursues the ultimate self-supporting operation ability and service ability, which is the core competitiveness that can grow rapidly

from large enterprises to Internet start-ups, easy to rent customers include banks, insurance, mobike bikes, ofo, etc. Active Internet enterprise customers in Beijing account for more than 50%

the management experience summarized from more than ten years of entrepreneurship is an important factor for the rapid growth of e-point rent. In the process of rapid expansion of the company, how to manage the company is also a major challenge he faces

Ji Pengcheng's management method is to hand over professional matters to various professional departments. He is responsible for overall planning and controlling the overall situation. Nevertheless, he is still busy with frequent communication between various departments every day, trying to do his best to maintain the efficient operation of the company

the "corporate culture" that many people seem to be empty is the management methodology that Ji Pengcheng attaches particular importance to. "Culture and mission are the things that unite enterprises." Ji Pengcheng has been thinking about how to keep the team in a strong centripetal force at all times and twist it into a rope in the high growth stage of Yidian rent now and in the future

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