Online Real Estate Big Data Service Yunfang Data Reveals Series A Funding Details
May 9, 2018
PE Daily, 5/08/18
Beijing-based Yunfang Data Technology, operator of online real estate big data services platform Yunfang Data, recently said that it completed RMB 20 mln in Series A funding in late 2016 from Shenzhen-based Fortune Venture Capital. Yunfang Data is positioned as a real estate big data services company. It initially operated in the real estate valuation domain and now offers two main products, including real estate valuation service Fang Gugu and data services product Zhizi Database. Fang Gugu provides services similar to those offered by independent third-party assessment institutions, and offers batch valuation and output reports for building resources. Zhizi Database provides real estate industry data services including property, transaction, and demographic information services. Yunfang Data collects fees under two different models. Under its API model, users pay fees based on data access frequency. Under its solutions model for large clients such as investment holding company Country Garden Holdings (2007.HK), the company collects fees on a per-project basis, and fees are typically in the RMB 7-digit range. Examples of Yunfang Data's services include assessing mortgaged properties for banks and lending institutions, developing property data systems for real estate development firms to aid pre-investment transaction decisions, providing pricing services for a second-hand property transactions platform, and exporting data for third-party assessment agencies. In addition, China is currently in the process of implementing new real estate taxes that require an assessment of each property's lowest sales price, and Yunfang Data has already completed more than 30 tax projects for tax bureaus in more than ten medium- and large-size cities, including Beijing and seven other provincial capital cities.