Kaodim, a Malaysia-based startup that currently operates in four countries in the region, raised $7 million for its home service program.
Kaodim is a booking service for hiring professionals for a range of services which include moving, cleaning, appliance care and repair, gas delivery and even photography.
The raise round was led by Square Peg Capital, a global fund based in Australia, and an affiliate of PE fund SIG Asia Investment. This recent capital brings the total fund raised by Kaodim from investors to $11.5 million. Other supporters of the startup include Venturra Capital, 500 Startups, East Ventures and KK Fund.
It’s a crowded field with competitors like RecomN, Helpster, ServisHero and more outside the region — for example Helpling, which has sourced from Asian investors — watching the Southeast Asia, a region with a population of more than 600 million and constantly increasing consumer expenditure.
Kaodim stated that it intends to spend the fund on marketing, improving and developing its products and services — it introduced a premium service last year — and increasing into “under-served markets.” It is currently available in Malaysia (Kuala Lumpur, Penang and Johor Bahru), Singapore, the Philippines (Manila) and Indonesia (Jakarta).
Our vision is to provide a faster, more dependable way of hiring a broad range of services; from cleaners to personal trainers. Square Peg Capital and SIG’s experience and expertise in investing in marketplaces around the world will help the Kaodim Group achieve this __ the managing director, Jeffri Cheong said in a statement.
[The team have] executed brilliantly to build Kaodim into the regional leader in its category. The business is scaling well across the region and is showing strong marketplace fundamentals __ Tushar Roy of Square Peg Capital added.Source : TechCrunch
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