Singapore-based tech startup Zowedo announced on August 14 a fresh round of funding led by Paragon Capital Management Singapore (PCMS). The S$270,000 (or US$200,000) investment brings the total investment amount to S$448,000 (or US$330,000). The startup has grown its listings to over 1,100 in a few short months and also integrated with Locanto to help draw traffic and consumers to the services available on their platform.
The online marketplace seamlessly connects consumers to personal, lifestyle and home services provided by local SMEs and micro-vendors. This fast-growing startup officially launched in February this year and has already secured two rounds of funding to further fuel its growth.
Antoine Nicole, CEO and Co-Founder of Zowedo said, "We are extremely grateful for PCMS's faith in us and support. The investment will help Zowedo enter a new phase of growth, speeding up product development and helping us scale both customer and vendor acquisition. The team is looking forward to benefiting from the experience and expertise of PCMS."
Zowedo was founded to fill a large gap in the SME market. Finding a good service provider for personal or home services can be challenging, and is often based on luck rather than knowing the best options available. Zowedo allows busy working professionals and anyone looking for lifestyle or home services to locate as well as discover services that they might need. By curating a wide range of service providers, enabling real-time appointments and online payment; Zowedo paves the way to the hassle-free booking of personal, lifestyle and home services for customers.
This uniqueness was what drew PCMS to invest in Zowedo. Paul Lee, CEO of PCMS said, "This investment fits well into our vision for the Singapore market. SMEs, including micro-vendors, make up almost 99% of businesses in Singapore and Zowedo is uniquely poised to serve the needs of this market. This investment will help spur the growth of the business and help create a sustainable business for the SME market in Singapore while providing a much-needed service to consumers."
By helping SMEs and small vendors who lack the resources and skills to bring their business online, Zowedo aims to contribute towards Singapore's drive for digitalisation. The majority of Zowedo's vendors are small companies or self-employed individuals. As Singapore moves towards a Smart Nation, Zowedo is helping these businesses break into new customer segments through a digital platform and empowering them to grow and sustain.
More than just an online marketplace
To create a service that consumers can use as a one-stop-shop for services, Zowedo focuses on providing variety in terms of types of services rather than just providing a list of available services. This involves close curation, understanding consumer preference and being able to collate a diverse list of service providers. With over 1,100 listings and user growth of over 200%, Zowedo has helped bridge Singaporean SMEs and consumers through their online platform, making it easier than ever before to find the services when you need it, without the hassle.
Singaporean SMEs greatly benefit from the strong marketing and digital payments platform that Zowedo provides, enabling dozens of businesses to create and grow their online presence without the heavy capital investment normally required. As part of the growth strategy to help drive consumers to local SME providers, Zowedo has launched a nationwide digital and bus shelter advertisement campaign in August.