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Serviis

Serviis

Serviis helps you to get the job done. Tell us what you need and receive up to 5 quotations from the best professionals around you.

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Deal Type

Equity

Funding Goal

$1,500,000

Current Reservations

$0

Minimum Reservation

$750,000

Deal Stage

Seed

Pre-money Valuation

$7,500,000

Open Date

02/01/2018

Closing Date

01/31/2019

Elevator Pitch

We make the Middle East service market accessible to consumers by building a network of professionals that display their service offering, and bid for the customer requests they are interested in

KPIs

11100 Users

Company Overview

Serviis is a marketplace that smartly connects customers and professionals for every types of services and projects in Saudi Arabia, (the largest economy in the Middle East).

Serviis aims to make the service market more accessible, transparent to consumers, and at the same time to provide the service providers a platform to display their service offering and to bid to customer requests. Serviis also operates a blog which provides key tips to customers and service providers. In the future, Serviis will add some statistics on the market trends, by leveraging the data Serviis will acquire through the bids of service providers.

In a recent consumer survey we conducted in Saudi Arabia ( the largest Middle East market), we identified five major issues Serviis aims to address

  1. Home service providers are the most difficult to find, followed by tutors and business service providers
  2. Direct referral is still the preferred tool to search for service providers, followed by Google and digital directories
  3. Time consuming process, lack of transparency on price and quality are the main issues when searching for a service provider
  4. Saudi customers highly value reviews and referral, and price when selecting a service providers
  5. A high quality and trusted solution is the main concern of Saudi customers when hiring a service provider

Those issues are similar in Egypt and UAE, which are the markets Serviis is also targeting in the future.

Serviis platform is accessible from any devise and it is free for consumers, while service providers pay only an introduction fee to bid for the request they are interested in. Our technology and revenue model is more scalable than the competition which focuses only on 1 vertical (e.g., home repair) and requires 20% share of the service provider invoice.


Traction

  • Professionals registered on Serviis: 6898

    December, 2018
  • Consumers registered on Serviis: 4241

    December, 2018
  • Requests received on Serviis: 3404

    December, 2018
  • Quotations submitted on Serviis: 11083

    December, 2018
  • Articles published on Blog: 106

    December, 2018

Press Mentions

Previous Funding

  • $50,000 Equity
  • Raise Source: Self
  • February 2016
  • $150,000 Equity
  • Raise Source: Self
  • September 2016
  • $133,000 Equity
  • Raise Source: Self
  • January 2017
  • $90,000 Equity
  • Raise Source: Self
  • September 2018

Frequently Asked Questions

Why Saudi Arabia?

Saudi Arabia is the largest economy in the Middle East, and even if it is the most complex to crack can deliver the highest competitive advantage

Why do not you focus on a market vertical (e.g., home services)?

Focusing on a vertical has several issues: a) consumers can bypass if in the future they need again a service provider, b) the business will not be enough large to ensure future sustainability, c) we want to create a one-stop shop for all service needs of the consumers

Risks & Disclosures

Risk 1 - Service providers will not be willing to pay for the credits to bid for projects

Risk 2 - Customers will be using Serviis to collect market data and then engage service providers through other channels, affecting the credibility of Serviis for professionals

Risk 3 - Quality of the service providers will not improve affecting the credibility of the platform for Customers

Documents

Confidential

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