Zowedo, an online marketplace that connects consumers in Singapore to personal, lifestyle and home services provided by local SMEs and micro-vendors, announced today it has received S$270,000 (US$200,000) in a fresh round of funding led by Paragon Capital Management Singapore (PCMS).
This is the company’s second raise, which takes it total money raised to date to S$448,000 (US$330,000).
According to Co-founder an CEO Antoine Nicole, the investment will help Zowedo speed up product development and scale both customer and vendor acquisition.
The startup was founded to fill a large gap in the SME market, where 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.
The Zowedo platform allows busy working professionals and anyone looking for lifestyle or home services to locate and discover services that they might need. The company curates a wide range of service providers, enabling real-time appointments and online payment. The focus is on providing variety in terms of types of services, which involves close curation, understanding consumer preference and being able to collate a diverse list of service providers.
The company claimed in a press note that it has grown its listings to over 1,100 since launch. It has also integrated with global online classifieds network Locanto to help draw traffic and consumers to the services available on their platform.
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 per cent 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.”