Latest Dunamis Ventures News
Jul 29, 2020
Fabogo, a beauty service and wellness aggregator, has raised $2.25 million in a fresh funding round from Dubai-based early stage investor Dunamis Ventures. The funding raised in the current round will be used by the company to strengthen its technology and to increase its user base. It will also spend significant amount on geographical expansion. ADVERTISEMENT Commenting on the funding, Prasanjeet Roy, CEO & co-founder, Fabogo said, “Our focus this time is technology because we’re entering the transaction game. We aim to become the market leaders in our existing cities by March next year. For that, we aim to grow at about 25,000 user downloads month-on-month.” Founded in the year 2015 by Prasanjeet Roy and Mohammad Ali Akmal. The startup allows users to discover beauty services at salons and spas in their locality. The company followed an international-first approach when it debuted in Dubai in May 2015. Later on, the startup launched operations in Pune and Mumbai in August 2015. Fabogo claims that it currently has more than 350K monthly users on its website. The startup is also planning to launch an Android and iOS app. The app will enable consumers to buy-book-redeem the beauty services around them. It also claims to have witnessed a growth of 20% month-on-month and driving an average of 500 appointments daily. It is currently following a ‘Pay-per-Lead’ based monetisation model: wherein it charges a small fee for every customer directed to a partnered venue. Share this:
Dunamis Ventures Team
1 Team Member
Dunamis Ventures has 1 team member, including current Managing Partner, Tanzil Ismail.