(Yicai Global) Jan. 8 -- Major property developer E-House China Holdings Ltd. has invested CNY10 million (USD1.5 million) in a quick decoration services provider aimed at long-term rental accommodation following government calls for the sector's development to address housing shortages in urban areas.

Shanghai-based start-up Xiaoma Kuaizhuang Ltd. will use the angel-round financing to boost marketing and R&D, as well as develop a management system and mobile application, online media outlet 36Kr reported yesterday.

The firm can outfit a 100-square-meter flat within five days using four workers, says Founder Dou Ting, thereby reducing decoration and time costs by 30 percent and 20 percent, respectively.

Xiaoma Kuaizhuang entered the long-term rentals decoration market in 2016 and has signed cooperation agreements with more than 20 apartment brands to date. The company has renovated over 5,000 properties over the past year, achieving revenues of over CNY100 million.