Social app Hayi raises undisclosed Seed round
- UAE-based social networking app Hayi has secured an undisclosed quantity in a Seed spherical from Plus VC, with participation from different regional angel buyers.
- Based in 2020 by Chris Darnell and Rene Morgan, Hayi is a social platform that connects residents of a neighbourhood the place they will share information and providers.
- The newly raised capital can be deployed to scale up Hayi’s operations, develop its advertising actions, and develop its footprints throughout the UAE and past.
- In 2021, the corporate raised a pre-Seed spherical of $325,000 from Sarya Holdings and Falak Startups.
Press launch:
The UAE-based neighbourhood app has introduced at the moment that the corporate has efficiently secured an undisclosed quantity within the seed spherical from Plus VC, a number one enterprise capital agency that invests in early-stage, tech-enabled startups within the MENA and its diaspora, with participation from outstanding regional angel buyers.
Hayi is a protected neighbourhood platform for folks to attach with those that are bodily closest to them and create a way of belonging to an actual and dynamic neighborhood. This digital neighbourhood-focused neighborhood app takes a really distinctive strategy to nearly connecting everybody and every part within the native space. Hayi could be very fashionable amongst neighbours throughout Dubai and is used to share every day native suggestions, preserve updated with native bulletins, reunite with misplaced pets, purchase and promote pre-loved items, and organise local people occasions.
The newly raised capital can be deployed to scale up its operations, develop its advertising actions, and develop its footprints throughout the UAE and past. This funding spherical follows Hayi’s achievements in crossing a number of noteworthy milestones up to now yr. Hayi has additionally constantly recorded optimistic money circulation over the previous a number of months, thus rising right into a worthwhile and sustainable enterprise.
“We’re honoured to have such sturdy buyers who acknowledge Hayi’s early achievements, are assured in our development potential, and actively assist our imaginative and prescient and values. Their backing and assist will assist us obtain our short-term and long-term aims and pioneer on this area,” mentioned Chris Darnell, co-founder at Hayi.
“Over the previous yr, our technique was to create a sticky product to lock in our customers and procure a excessive person retention and engagement price. Right now, now we have turn into the first communication channel in vibrant neighbourhoods similar to Jumeirah Village Circle (JVC) in Dubai. Our objective is to give attention to increasing into new areas and fostering a stronger sense of neighborhood all through Dubai and the UAE,” he added.
Hayi is utilising its first-mover benefit within the area to turn into MENA’s first neighbourhood app. Impressed by the worldwide successes of unicorn neighbourhood apps similar to Nextdoor within the USA and Danggeun Market in South Korea.
Commenting on the fundraising announcement, Hasan Haider, Managing Companion +VC, mentioned: “Group-based apps are gaining traction as there’s a rising demand for folks to speak with others of their neighborhood. That is evident from the expansion Hayi has witnessed month over month. Platforms similar to Hayi have nice potential for development as increasingly folks search sturdy neighborhood connectivity, a way of neighborhood and belonging, and improved security and safety. We’re delighted to collaborate with Chris, Rene, and their group as they develop their footprints throughout the UAE and past and place Hayi as a trailblazer on this area.”
“For us, a sustainable development path with sturdy money flows was important earlier than contemplating growth. We launched our B2B subscription service a couple of yr in the past, the place we assist native companies entry prospects in an especially hyper-targeted method. Right now, we’re proud to have 30,000 extremely engaged natural customers. With Hayi, companies can promote their choices not solely on to a sure neighbourhood however even right down to a selected condo constructing. This stage of geo-marketing is at the moment unprecedented. We have now witnessed sturdy money flows with 30 p.c month-to-month recurring income (MRR) development, indicating a spike in demand for Hayi and its widespread recognition. Being money circulation optimistic with sturdy income development, we’re excited to group up with Plus VC and our regional buyers to speed up our sustainable development path,” mentioned Rene Morgan, co-founder at Hayi.
Hayi relies on belief, with every member’s identify, residence, and neighbourhood being verified. This adopts accountability and openness, two important components of neighborhood formation. Its burgeoning neighbourhood neighborhood has entry to dependable hyperlocal info, helps each other out when wanted, completes duties, and creates dialogue.
Hayi has turn into the first communication channel for a set of neighbourhoods in Dubai, with many native success tales in JVC. For instance, in addition to neighbours discussing the standard native occasions, getting collectively for carpools, and re-uniting pet dad and mom with their misplaced cats, there’s one story particularly that looks like a really ‘Dubai’ story. A girl wakened one morning with a falcon on her balcony. Not sure of find out how to deal with the scenario, she turned to her neighborhood on Hayi to ask for assist, and really rapidly, a neighbour in her constructing got here to assist her out!
Final yr, the Hayi app was chosen for Google’s #WeArePlay marketing campaign, which honours and spotlights apps from around the globe. Hayi was acknowledged as one of many few distinctive and favorite apps within the UAE. In addition to, Hayi has managed and organised cleanups in neighbourhoods and held neighborhood occasions, to be able to foster interplay between neighbours. The corporate had beforehand raised a pre-seed spherical of $325,000 from Sarya Holdings and Falak Startups.