Fixzy, the Thai app that works as an on-demand handyman service in Bangkok, has announced its plans to aggressively expand to other major provinces.
The startup has raised around US$300,000 in a seed round, according to e27, putting the company’s valuation somewhere close to US$2 million – three times its value at the time of its initial investment from Iyara VC last year.
This US$300,000 investment is said to come from three unnamed individuals, one of whom is a prominent figure in the Thai Chamber of Commerce.
Described as the ‘Uber for handymen’, Fixzy is an app that allows you to search for service technicians on demand, as and when your need arises.
Via the app, you select your technician – who are ID verified and police checked before they register on Fixzy – according to the job you want done, their availability and real ratings from previous users. There’s no service charge.
The services on offer stretch from anything from cleaning, fixing electrical equipment and appliances, pipes and water systems to larger jobs like home improvement and renovation, as well as a host of miscellaneous home tasks you might need doing.
Fixzy was launched in 2015 and has reportedly been growing at a rate of 30 to 35 percent.
CEO Ruchvuth Pichayapan said, “We believe that Fixzy can continue grow at least 20 to 30 per cent a month and will break-even within the next eight or 10 months.”
“We plan to double the growth of every milestone we have achieved so far as there is a plan to aggressively expand to the other major provinces in Thailand. The first province outside of Bangkok that we already have presence in is Khonkaen, and the reception there has been phenomenal,” he said.
Fixzy was chosen to receive an initial incubation fund from Iyara VC last year. The US$9.3 million venture capital fund was launched in 2015 in order to invest in 100 software companies up to 2020, and Fixzy was chosen to be one such company.
Chatchai Tolertmongkol, co-founder of Iyara VC, commented on Fixzy’s latest success and the venture fund’s method for nurturing their investments,
“We are glad to see the progress of Fixzy. I admit that Iyara VC has taken its time with selecting its startups, but we believe it is more important to grow each investment successfully.
“We put substantial efforts within our investees, and want to make sure that they follow the right path. We don’t believe in the ‘invest and abandon’ concept,” he concluded.
Featured image is via Youtube/KitchenerLocalPros (Creative Commons)