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investment 2015-12-07

‘On-demand’ beauty services start-up Vanitee raises another US$2mil+

Singapore’s Vanitee, which describes itself as the ‘Airbnb of beauty and wellness services,’ said it has successfully raised S$3 million (US$2.13 million) from serial entrepreneur Ivan Lee and Japanese beauty portal @cosme.

‘On-demand’ beauty services start-up Vanitee raises another US$2mil+

Funds to be used for expansion into Malaysia by Q1 2016, boost manpower

Matches users to beauty services, allows beauty professionals to set up online presence

This follows an earlier $2million injection by South-East Asian beauty distributor Luxasia and angel investor Robert Yap, who runs logistics company YCH, it said in a statement.

Vanitee was founded in September 2014, according to CrunchBase, which gives slightly different numbers on its funding thus far, possibly due to currency fluctuations.

The Vanitee app allows users to connect with beauty professionals and book their services for anything from manicures, hair styling, facials and make-up to even brow-and-lash services.

It also has a set of tools for beauty professionals to grow their online business. “Vanitee uses technology to empower small beauty businesses, allowing beauticians to set up their own beauty business in under 10 minutes,” it said.

The company claims that as of November 2015, it has over 550 beauty professionals listed on its platform and 1,200 undergoing its vetting process.

All professionals listed on Vanitee must adhere to the company’s service guidelines and standards, as well as its satisfaction guarantee for all bookings made via the app, it said.

More than 4,700 consumers have booked a beauty service via the Vanitee app in the last six months, the company claimed. More than one-third makes three to five bookings a month for the various beauty services available on the platform.

With the increased capital, Vanitee will begin its expansion into the region next year, starting with Malaysia in the first quarter of 2016.

It will also use to new funds for strategic acquisitions and boosting its manpower, cofounder and chief executive officer Douglas Gan said.

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