Aggregator of beauty аnd wellness industry, Fabogo has raised $ 2.25 million (Rs 14.5 crores) from Dubai based early-stage investors Dunamis Ventures. Prior to this, company had secured an angel funding of $500,000 in May, 2015 and $1 million in January, 2016 as angel investment from PE Investors in Dubai.
The company plans 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.
Commenting on the recent development, Pasanjeet Roy, CEO and 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.”
Co-founded in March 2015 by Prasanjeet Roy and Mohammad Ali, Fabogo took an international-first approach by debuting in Dubai in May and subsequently launched in their home turf, Pune and Mumbai in August 2015. Fabogo, formerly Mazkara quickly built itself up as the leading online platform to discover beauty and wellness services in UAE. It lists salons, spas and cosmetic centres, to gain higher
visibility and enables them to be discovered by new customers searching for beauty and wellness services. Customers use it to gain quick access to information such as prices, offers, photographs, user reviews and more.
Fabogo aims to be the world’s leading online engagement platform for the personal grooming industry, working to bring salon and spa owners and their target market segment closer to each other and providing them the tools to interactively engage with each other.
At its core, the product is aimed at helping its users stay beautiful, by enabling them to search and discover beauty services at salons and spas in their locality. Fabogo’s current business model is Pay-per-Lead based wherein they charge a small fee for every customer directed to a partnered venue.
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.
Startup claims that it is increasing at a solid 20 % month on month and are driving an average of 500 appointments daily.
The company plans 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.
Commenting on the recent development, Pasanjeet Roy, CEO and 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.”
Co-founded in March 2015 by Prasanjeet Roy and Mohammad Ali, Fabogo took an international-first approach by debuting in Dubai in May and subsequently launched in their home turf, Pune and Mumbai in August 2015. Fabogo, formerly Mazkara quickly built itself up as the leading online platform to discover beauty and wellness services in UAE. It lists salons, spas and cosmetic centres, to gain higher
visibility and enables them to be discovered by new customers searching for beauty and wellness services. Customers use it to gain quick access to information such as prices, offers, photographs, user reviews and more.
Fabogo aims to be the world’s leading online engagement platform for the personal grooming industry, working to bring salon and spa owners and their target market segment closer to each other and providing them the tools to interactively engage with each other.
At its core, the product is aimed at helping its users stay beautiful, by enabling them to search and discover beauty services at salons and spas in their locality. Fabogo’s current business model is Pay-per-Lead based wherein they charge a small fee for every customer directed to a partnered venue.
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.
Startup claims that it is increasing at a solid 20 % month on month and are driving an average of 500 appointments daily.
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