Monday, May 27, 2024
HomeFundingBeauty Service Booking App Vaniday Raises 7-Figure, Exits All Markets Except S'pore

Beauty Service Booking App Vaniday Raises 7-Figure, Exits All Markets Except S'pore

From manicure and pedicure to hair treatments and shiatsu massages, Vaniday is perhaps the beauty and wellness connoisseurs’ go-to service to use.

But the company has gradually shut down its global operations except Singapore, Tech In Asia (TIA) reports.

Vaniday used to be present in Australia, Italy, the UAE, Russia, and Brazil.

This move comes just as they secured a seven-figure sum in euros of fresh funding led by parent firms Rocket Internet and Asia Pacific Internet Group.

They are looking to raise more around the end of the year ahead of launching in new markets.

Vaniday CEO Saurabh Chauhan told TIA, “That was a change in focus from the investor board, to focus – to be very, very laser-focused – on Southeast Asia.”

He shared that they’re looking at the Singapore market now but they plan to “expand to one to two more markets by the end of this year or early next year”, naming Thailand and Indonesia as top choices.

When TIA asked why they chose to “risk it all in one region”, Chauhan said that the growth in SEA was much greater than the South America and Europe markets back in 2016/2017.

All in all, this new strategy will make it even more efficient for users, shortening confirmation times and simplifying its backend processes.

Chauhan likens Vaniday to “Chope, but for salons”.

He revealed that the company hasn’t been profitable since its first investment in 2015 but is optimistic on its growth, as they saw a 2.5x growth rate in terms of revenue and transactions processed in 2018.

Vaniday was started up in Brazil in March 2015 by former founders Maxime Legardez, Vera Futorjanski, and co-founder Nitin Reen.

Their headquarters was based in Berlin and the service launched in Singapore in December 2015.

The salon-booking startup was handed over to Chauhan, who is now based in Singapore, in early 2018.

Featured Image Credit: Vaniday, RT Hijab Styles

Also ReadLINE Users Can Soon Pay With Visa: Cross-Border, ‘Alternative Currency’ Payment To Come

- Advertisment -

Most Popular