OVVY
A word-of-mouth digital marketplace in which consumers find, compare and book local service providers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
$440k | Seed | ||
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 50 % | - |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Ovvy operates as a mobile-first digital marketplace designed to connect clients with service providers for a variety of household needs. Founded in 2015 by Mia Gigandet and Thomas Beattie, the Singapore-based company was established to address the challenge of finding reliable vendors for everyday tasks. Gigandet, who serves as COO, has a background in mechanical engineering and finance, while Beattie, the CEO, is a former professional football player who identified the market need after manually connecting friends with service providers. The platform was officially launched in June 2018.
The company's primary market is Singapore, where it initially targeted expatriate households before expanding. Ovvy's business model is commission-based; it is free for users and merchants to download and use, with the company charging a transaction fee for each completed job. This fee consists of a 5% card transaction charge and a 10-15% platform fee deducted from the total job price upon completion. A key milestone for Ovvy was securing S$600,000 (approximately US$436,000) in a seed funding round from angel investor Rapzo Capital in May 2019. Subsequently, the company was acquired by PropNex, a Singaporean real estate company, on April 5, 2021.
The Ovvy platform allows clients to post a detailed job request, which merchants then bid for. This model gives clients control to compare offers based on price, merchant profiles, and user reviews. Unlike systems that automatically assign vendors, Ovvy allows users to chat with merchants and choose the one they are most comfortable with. For security, payments are held in an escrow account and are only released to the merchant once the client marks the job as complete. The service categories include plumbing, electrical work, painting, cleaning, handyman services, and moving. The platform also features a rewards system for both clients and merchants, and provides performance analytics for service providers to track their business.
Keywords: service marketplace, home services, local services, Singapore, handyman app, find a plumber, cleaning services, online booking, word-of-mouth marketplace, mobile marketplace, PropNex, Mia Gigandet, Thomas Beattie, Rapzo Capital, service provider bidding, escrow payment, B2C services, home maintenance, service reviews, on-demand services