Source Code Capital portfolio company "Julive" announces completion of RMB 400 million Series C+ funding round, with existing shareholder Source Code Capital continuing to increase its stake

On March 11, Juli Maifangwang announced the completion of a 400 million yuan Series C+ funding round, led by Tencent and Oceanpine Capital, with existing shareholders HSG, Source Code Capital, and Eight Roads continuing to participate. Miracle Capital served as financial advisor. Founder and CEO Peng Wang stated that the proceeds would be used for scale expansion, technology investment, and service upgrades. Source Code Capital has invested continuously since the Series A, through Series B, B+, and C.

Juli Maifangwang was formerly known as Juli Xinfang, founded in 2014 with a mission to provide homebuyers with comprehensive, professional, and reliable decision-making support. The company maintains a team of professional home-buying consultants, offering end-to-end customized services from big-data property search to citywide chauffeured viewings to guaranteed low-price purchases. Its operations currently cover seven major urban clusters — Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta, Chengdu-Chongqing, and others — across 37 cities, having helped over 3 million families purchase their desired properties. In December 2020, monthly GMV exceeded 5 billion yuan.

New-home e-commerce has been debated within the industry for years. During the pandemic last year, when real estate transactions were largely frozen, online home sales gained renewed attention. Peng Wang, founder and CEO of Juli Maifangwang, said that during the 2020 "222 Home Selection Festival," Juli completed nearly 2,000 online transactions, 70% of which involved users who had never visited a sales office before. After the pandemic subsided, 30% of users retained the habit of viewing properties online first.

This would seem to demonstrate that offline processes in new-home transactions can be partially replaced. Wang believes that most new-home buyers are new urban residents whose parents don't live in the same city, yet home purchases typically involve "six wallets" — requiring coordination among multiple people to visit properties in person, which demands considerable time and energy. If buyers can screen several satisfactory developments online before concentrating their in-person visits, both the experience and efficiency improve dramatically.

Wang noted that new homes are gradually shifting toward a buyer's market, yet most industry players have historically oriented their services around sellers. Juli aims to focus on serving the C-end, helping consumers solve problems more professionally.

Juli's distinguishing feature has been its combination of data systems with a direct-service team, offering digitized property information alongside consultant-led full-process service. From day one, the company has exclusively hired consultants with bachelor's degrees or higher — 78% from first-tier universities, 42% from Double First Class institutions — pioneering a high-education consultant model in the industry.

Meanwhile, the company's ratio of technical to service staff reaches 1:3. The platform leverages big data and AI to enable its consultant team to deliver better service, using algorithmic optimization to make its service system operate more efficiently. According to information provided by the team, Juli's average home purchase cycle is 15 days, compared to an industry average of two to three months; user service satisfaction exceeds 99%, with an NPS score above 70.

Following this funding round, Juli will continue increasing technology investment, with plans to innovate more on front-end products and tools for information display over the next one to two years.

To date, Juli's operations cover seven major urban clusters — Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta, Chengdu-Chongqing, and others — across 37 cities, having served over 3 million families. In December 2020, monthly GMV exceeded 5 billion yuan.

Xingshi Wang of Source Code Capital commented: "The growth of a ten-trillion-yuan transaction volume multiplied by the growth of broker penetration makes new-home transaction services a rare large incremental track under the new normal. Within the Juli Maifangwang ecosystem, the perfect combination of brokers and data systems has enabled a data-driven win-win-win for customers, brokers, and platform, thereby constructing a new model for broker platforms. At the same time, a professional new-home broker community is rising, and home-buying services and experiences are upgrading and iterating — Juli is precisely the leader of this trend. Juli founder and CEO Peng Wang is a resilient, bold, and innovative outstanding entrepreneur. Source Code Capital has been firmly optimistic about the company's long-term development since first engaging with it in 2016, and has continued to increase our investment. Going forward, we will continue supporting Juli in becoming a digital 'new species' in the real estate industry, bringing people an entirely new home-buying experience."

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