What is BingaBinga? BingaBinga Review

Platform Introduction

The platform's current categories include: Bedding & Linen, Decorative Objects, Wall Art, Clocks, Lamps & Candles, Cooking & Dining, Jewelry, Outdoor Products, and Custom Selections.

Steps to Settlement

Please contact the investment manager first to send a brief introduction of the relevant products. After a preliminary review and confirmation that they meet the platform requirements, log in to the platform and click "Open a shop" in the lower right corner to register an account. After successful registration, please send your store name and email address to the investment manager. The platform system will then send you an email with the required review materials. Submit the materials as required, and you can log in to your own store after the review is passed.

Both individuals and enterprises from mainland China can settle in.

cost

Binga platform has no service fee. If your product has transaction volume on the platform, we will charge a 15% commission from the total transaction volume. There are no other fees.

Settlement Model

One is that the transaction funds directly enter the capital pool and settle with the merchant on a monthly basis;

The other is settlement by item, which will be made 14 days after the user signs for the goods.

Financing

In May 2016, BingaBinga received an angel round of financing of RMB 3.5 million from Cherubic Ventures.

Binga FAQ

Q1: How does the platform charge?

A: There is no service fee on the Binga platform. If your product has a transaction volume on the platform, we will charge a 15% commission from the total transaction volume. There are no other fees.

Q2: What is the remittance method?

A: Binga currently cooperates with two third-party payment companies, PayPal and Payoneer, and will need another third-party payment platform in the future. The payment period is about 15 working days.

Q3: How can you ensure the platform's traffic in the early stage?

A: In the early stage, Binga platform will promote and attract off-site traffic for high-quality sellers who have passed the review on social media such as Facebook and Google. The initial costs are paid by the platform.

Q4: Do you have overseas warehouses?

A: Binga platform plans to set up overseas warehouses in the UK for sellers with good and stable sales and demand in this regard. The rent of the warehouse will be free for the first one or two months.

Q5: Why can’t I log in to the platform after submitting the materials and passing the review?

A: To ensure the security of your account, after the materials are reviewed and approved, you will need to click on the link in the email you received when you log in to the platform for the first time.

References

• 1. He raised 3.5 million yuan to start e-commerce and export products from 400 domestic manufacturers to the European market instead of North America: Pencil Road [reference date 2017-02-27T16:00:00.000Z]
• 2. Binga platform store opening process, fees, and product upload tutorials: zaker [reference date 2017-07-02T16:00:00.000Z]