Two startups in the lifestyle industry from Myanmar and Thailand – Flexible Pass and Hungry Hub – have banked new early-stage financing to accelerate their expansion.
Myanmar fitness app Flexible Pass bags six-digit pre-Series A financing
Myanmar health and fitness app Flexible Pass has raised a six-digit pre-Series A funding from existing investors including Yangon Capital Partners, Seed Myanmar and Nest Tech, according to an announcement.
Proceeds from the funding will be used to help the company expand into other wellness services such as spa and beauty, and develop a new subscription-based B2B product by the end of this
The new B2B product will target businesses in the beauty and wellness industry, enabling them to streamline the booking process, the company said.
Founded in 2017, Flexible Pass has worked with over 150 gym and fitness centres and hotels in Yangon, Mandalay and Pyin Oo Lwin and offers fitness activities in 20 different categories on its system.
It claims to have over 1,000 monthly active users and around 2,500 bookings per month.
Shinsuke Goto, managing director at Yangon Capital Partners, said this second investment in the startup “will turbocharge its exponential growth in Myanmar.”
Thai dining app Hungry Hub raises $450,000 from Expara, 500 Startups
Hungry Hub will use the latest investment to increase its partner restaurants to 1,000 within the next 18 months. It also plans to raise a Series A round in the next 12 months to expand outside of Thailand.
Starting off in 2014 as a restaurant reservation app, Hungry Hub has pivoted to offer specialised promotions for buffet deals and set-menus at restaurants. Currently operating in Bangkok and Chiang Mai, the startup said it has served over 430,000 diners, with an average per booking spend of $80.
“Hungry Hub wants to allow diners to be able to know upfront before entering any restaurant as to how much their food bill is going to come to and for restaurants to drive more revenue through sustainable promotions,” the company’s founder and CEO Surasit Sachdev said in a statement.
Hungry Hub is working with affiliates such as food bloggers and travel platform Klook, and will seek more affiliate partners to sell dining packages to tourists.