- UAE-based social networking app Hayi has secured an undisclosed seed round of funding from Plus VC with participation from angel investors from other regions.
- Founded in 2020 by Chris Darnell and Rene Morgan, Hayi is a social platform that connects neighbors to share news and services.
- The new funding will be used to expand Hayi’s operations, expand its marketing efforts and expand its footprint across the UAE and other countries.
- The company raised a pre-seed round of $325,000 from Sarya Holdings and Falak Startups in 2021.
press release:
The UAE-based neighborhood app today announced that the company has successfully secured an undisclosed amount in a seed round from Plus VC. Plus VC is a leading venture capital firm investing in early stage technology-enabled startups in MENA and its diaspora. Prominent angel investors from the region also participated.
Hayi is a safe neighborhood platform for people to connect with those closest to them physically and create a sense of belonging to an authentic and dynamic community. This digital region-focused community app takes a very unique approach to virtually connecting everyone and everything in your local area. Hayi is extremely popular among neighbors across Dubai, where we share daily local recommendations, get local updates, reunite lost pets, buy and sell your favorite items, and much more! It is used to organize local community events.
The new funding will be used to scale up the business, expand marketing efforts and expand its footprint across the UAE and other countries. This funding round follows Hayi’s achievements in achieving several notable milestones over the past year. Hayi has also consistently recorded positive cash flow over the past few months, making it a profitable and sustainable business.
“We recognize Hayi’s early achievements, are confident in our growth potential, and are thrilled to have such strong investors who actively support our vision and values. Their help and support will help us achieve our short- and long-term goals and be a pioneer in this space.” said Chris Darnell, co-founder of Hayi. say.
“Over the past year, our strategy has been to create a sticky product that retains users and achieves high user retention and engagement rates. Our goal is to expand into new areas and focus on fostering a stronger sense of community across Dubai and the UAE. ” he added.
Hayi leverages its first-mover advantage in the region to become MENA’s first neighborhood app. Inspired by the global success of unicorn neighborhood apps such as Nextdoor in the US and Danggeun Market in South Korea.
Commenting on the funding announcement, Managing Partner +VC Hasan Haider said, “Community-based apps are gaining momentum as people have a growing demand to communicate with others nearby. “This is evidenced by the growth Hayy has witnessed over the past month.” “Platforms like Hayi have tremendous growth potential as more and more people seek strong neighborhood connections, a sense of community and belonging, and improved safety and security. , Rene, and their team.”We are pleased to be working with Hayi and their team to expand our footprint across the UAE and beyond, positioning Hayi as a pioneer in its field. ”
“For us, a sustainable growth path with strong cash flow was essential before we considered expansion. Today, we’re proud to say that we have 30,000 highly engaged organic users. Hayi allows businesses to market their products in a specific way. Not only can you advertise directly to a region, but you can even promote to a specific apartment building. This level of regional marketing is currently unheard of. We are witnessing a solid 30% cash flow. Revenue (MRR) growth indicates the surge in demand for Hi and its widespread popularity. With strong revenue growth and cash flow positive, we are working with Plus VC and regional investors to We are excited to accelerate our path to sustainable growth with Hayi.” said Rene Morgan, co-founder of Hayi.
Hayi is based on trust, and each member’s name, residence, and neighborhood are verified. This employs her two key elements of community building: accountability and openness. In fast-growing neighborhood communities, access trusted hyperlocal information, help each other when needed, complete tasks, and generate discussion.
Hayi has become a major communication channel for Dubai’s neighborhoods and JVC has many local success stories. For example, neighbors discuss annual local events, get together for carpools, pet parents and lost cats are reunited, and more than just stories that feel particularly ‘Dubai’. There is one. One morning, a woman woke up to find a peregrine falcon on her balcony. She didn’t know how to deal with the situation, so she turned to the Hay community for help. Soon after, her building’s neighbors came to her rescue.
Last year, the Hayi app was selected for Google’s #WeArePlay campaign, which celebrates and spotlights apps from around the world. Hayi has been recognized as one of the few outstanding favorite apps in the UAE. In addition, Ms. Hai managed and organized neighborhood clean-up drives and held community events to encourage interaction between neighbors. The company previously raised a pre-seed round of $325,000 from Sarya Holdings and Falak Startups.
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