Hotline: 1800 102 2007
X
Search Business Opportunities
Jul, 12 2017

Fabogo plans to develop an Android and iOS app

The company is planning to utilize 40% of its funding to strengthen technology and another 40% to increase its user base, the remaining amount will be used for geographical expansion.

Beatury services and wellness aggregrator, has raised $2.25 million (Rs 14.5 crore) in its third round of funding. The funding round was led by Dubai-based early-stage investor, Dunamis Ventures Pvt Ltd. 

The company had earlier secured an angel funding of $500,000 in May, 2015 and $1 Million in January, 2016 as angel investment from PE Investors in Dubai.

Fabogo was founded by Prasanjeet Roy and Mohammad Ali Akmal in March 2015. It 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.

With more than 3,50,000 users monthly on their website, Fabogo is also launching the app on android and iOS that will enable consumers to buy-book-redeem the beauty services around them at their convenient аnd comfort.

The company is planning to utilize 40% of its funding to strengthen technology and another 40% to increase its user base, the remaining amount will be used for geographical expansion.

Pasanjeet Roy, CEO & Co-founder, Fabogo, said, "Our focus this time is technology because we’re entering into 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."

The company currently claims to witness 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.

Comment
Related opportunities
  • Car wash / Ceramic Coating / Detailing
    About Us: Across the globe, 3M is inspiring innovation and igniting..
    Locations looking for expansion Delhi
    Establishment year 1950
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Quick Service Restaurants
    About Us: Waffle wallah is an innovative and popular QSR chain,..
    Locations looking for expansion West bengal
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 64
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Saltlake West bengal
  • About Us: Established in 2012, Hot Fut Sports, a venture of..
    Locations looking for expansion Maharashtra
    Establishment year 1950
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 6000 - 50000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • Gyms and Fitness Centres
    About Us: Trugym is an innovative gym operator from the UK...
    Locations looking for expansion Delhi
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities