Weadoc, a platform that provides online-to-offline (O2O) mobile phone repair services, has raised 100 million yuan (US$15.15 million) in a Series B round led by MatrixPartners China and Cowin Capital.
The company connects users with technicians who will come to them and provide services such as repair of a broken battery or replacement of a cracked screen.
As Chinese venture capital portal PEdaily reports, the firm will invest 300 million yuan to expand its service network to cover 70 cities across the country.
According to Weadoc, users can place a repair request through the phone, its website or its app. A reply can be expected within 10 minutes. Within an hour, a technician will show up at the door and complete the repair within 30 minutes.
Currently, Weadoc focuses on iPhones, Samsung and Xiaomi smartphones as well as Apple’s MacBook and DJI drones. It plans to expand its services to electrical appliances such as robots and smart home devices.
According to figures from the China Academy of Information and Communications Technology, the country produced 560 million smartphones in 2016, and there were about 150 million units that may need repairs.
Despite China’s explosive growth in smartphone sales, after-sales services leave much to be desired. The lack of transparency in service pricing and poor spare parts quality, along with unprofessional practices by technicians such as installing malware and changing original parts with knockoffs during service, are issues faced by smartphone users over the years.
The goal of bringing a technician to the user’s home within one hour is achieved by Weadoc’s match-making algorithm that finds a technician nearest to the client’s location. And to ensure transparency and contribute to a positive customer experience, the whole servicing process is videotaped.
Weadoc.com was founded in April 2015 as a platform under Hangzhou-based Weishi Technology. Since 2016, it has been offering on-demand service networks in 31 provincial capitals and municipalities including Beijing, Shanghai, Guangzhou and Shenzhen.
The platform has a team of nearly 400 people, including about 300 technicians. It receives over 2,000 repair orders daily.
Until the end of October, Weadoc has served 1.3 million customers and repaired over 2 million smartphones, with an annual revenue of 300 million yuan.
The company also forged an after-sales service partnership with Chinese smartphone maker Meizu.
This article appeared in the Hong Kong Economic Journal on Nov. 29
Translation by Ben Ng with additional reporting
[Chinese version 中文版]
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