Jichongjia Completed 500 Million Yuan Financing

On August 21, pet medical service company Jichongjia has completed 500 million yuan financing. This round of financing was led by pet medical service company Ruipeng Group.

Previously, Jichongjia has completed angel round and pre-A round of financing, led by China Pet Foods and Ruipeng Group respectively.

According to iiMedia Research, from 2015 to 2018, the annual compound growth rate of pet industry reaches 20% in China. The market size of the pet industry reached 170.8 billion yuan in 2018 and is expected to reach 295.3 billion yuan in 2020.

Founded in 2018, Jichongjia is a new retail brand of pet industry enterprises Yunchongzhineng. Jichongjia’s business includes live adoption of cats and dogs, pet beauty and modeling, cat and dog products, pet foster care and pet medical care. Jichongjia aims to be a "4s stores in the pet industry" and build a vertical industrial chain from sales of pet products to after-sales feedback. Vertical pet industrial chain can provide abundant pet supplies and meet various needs of pet owners.

Jichongjia’s physical store was set in Nanjing on August 16, 2019. Until August 19th, the daily customer flow of Jichongjia was nearly 4000 person-times, and more than 1000 users booked pet bath and beauty services online and offline.

Founded in 2013, Ruipeng Group is a pet medical service institution. Its business covers pet medical care, laboratory diagnosis, pet beauty and modeling, etc. Ruipeng Group has more than 1300 pets hospitals in China, covering nearly 78 cities such as Beijing, Shanghai, and Guangzhou.

In January 2019, Ruipeng Group reached an agreement with Hillhouse Capital to form the New Ruipeng Group, which will have more than 1000 chain stores and more than 15000 employees.