About A mobile rental platform aiming to optimizing the house rental processes from house sourcing, to contract signing, to rental payment. Baletu dedicate to build a transparent platform that connect both tenant and landlord directly, enhancing the house renting experience and thereby building the house rental eco-system.
Norman LuiCo-Founder & CEOBeing a serial successful entrepreneur, Norman spend his early years in Bain & Co. China as Chief Representative and later founded the influential human resource service provider, 51Job (NASDAQ: JOB). He later founded Lumi and turned it into one of the leading online nutrition and beauty brands in China. Norman exhibits profound leadership and learning capability.
Haijun YuCo-Founder & COOFormer Senior Vice President at51Job (NASDAQ: JOB). 17 year in 51 Job and one of the early stage employees in the business development unit. Bachelor in Bio-Chemistry, Wuhan University; Bachelor in Business Administration, Beijing Jiaotong University.
Xiaojun CengCo-Founder & CEOOversees finance and rental product. Former Management Trainee in HSBC. Former auditor in Grant Thorton. Former CFO of Lumi, one of the leading online nutrition and beauty brands in China. Former CFO of 9 Diamond, one of the leading diamond e-commerce platform in China. Xiaojun exhibits deep understanding in P2P and financial transactions.
What is your startup vision? Norman:We firmly believe that we revolutionize the house rental market through the technology of mobile internet, optimizing the user experience and efficiency of owner and renter. We are a team with serial entrepreneurial experience and we are confident to utilize the team’s experience and capibilityies to bring to renter nationwide a pioneering rental experience.
What is the greatest challenge you have encountered in your startup road? Xiaojun: We are very confident about our model as the problem should be solved by mobile internet. However, from the perspective of investors, they see similar solutions in the past decade, solutions that belong to the ‘Internet 1.0’ era. Our real challenge lies in satisfying the underlying user needs and employ the Internet 2.0 method to address use pain points, proving the investors that this is a better model in China in the future. Addressing the rental need with internet is nothing new, there are even some leaders in the market trying to address the same need. What we are doing here is different. Baletu offers greater improvement in user experience than existing models. We are building a greater ecosystem using the internet 2.0 method and bringing greater values.
How has Zhong Wei Capital helped you? Haijun:Zhong Wei Capital proves to be a strong endorsement in every one of our fundraising rounds. They relentlessly introduce to us suitable potential investors and through their participation in the strategic discussion of each fund raising round, they help facilitate investors’ understanding of Baletu’s Internet 2.0 model. On marketing strategy, Zhong Wei Capital has given us many valuable advice and brought in potential advertising and human resources. We appreciative Zhong Wei Capital’s timely response to our need and sharing of their resources.
Why did you choose Zhong Wei Capital for investment? How is Zhong Wei Capital different from other funds? Norman:I have known Patrick Cheung, one of the Partners in Zhong Wei Capital, for almost 10 years and we spend considerable time discussing potential business opportunities together. Zhong Wei Capital has a strong team whose entrepreneurial background practically complements us in the many facets of challenges we are facing.