Gigfairy boasts a simple two-step process for booking musicians
Malaysia’s Airbnb for live music, Gigfairy, today announced the raising of MYR 100,000 (US$27,000) in a seed funding round led by local investment firm Endeavor Capitals. The investment comes quickly after the live music startup won the recently concluded edition of the Alpha Startups pre-accelerator program, in which they received US$3,000 and mentorship from 1337 Ventures, the organizer of the program.
“We were approached by a number of investors not long after we came out on top at Alpha Startups, and got all that coverage on the tech sites,” explains co-founder Brian Foo. “The idea behind the product is nothing new, but applying it in this industry is something no one has done before, and I think that is what gets the investors excited and so ready to jump into it so quickly.”
The funds will be used to improve on the product, marketing efforts, and acquiring customers within the region.
Booking market share early
“At the moment, Gigfairy is only available in Malaysia, but good music should be shared everywhere in the world and so the service will go international soon,” says Foo. According to him, Singapore is next on the map.
Gigfairy boasts a simple two-step process for booking musicians: browse through the profiles of local musicians, and book them right from their profile page. While there are directories of musicians in Kuala Lumpur, there aren’t any other close competitors in Asia just yet.
Alpha Startups is set to arrive in Singapore later in March, and will be moving to other major ASEAN cities within the next 18 months, according to 1337 Ventures CEO Bikesh Lakhmichand.
This post was originally published in Tech in Asia