Beauty advisory platform Favful bagged US$500,000 in seed funding from Shanghai-based VC Gobi Partners. The Malaysia-based startup closed the deal in April this year but announced it only today.
It says it will use the investment to expand to other parts of Southeast Asia and ramp up its marketing.
Favful, which went live in February, was born out of its founder Sasha Tan’s own frustrations.
“I remember I was going through puberty and all excited about the beauty world out there, so I constantly changed my beauty products and brands. I ended up with worse skin and had to resort to drastic injections and laser treatments,” Sasha previously told Tech in Asia. “Over 10 years, I’ve spent a ton of money to find out the skincare products that actually worked on me. I thought there must be a better way for us to obtain information easily.”
So she launched Favful, which offers price comparisons and ratings for beauty products based on skin type, and features reviews from users to make the shopping experience less overwhelming.
Favful had been backed by investors Segnel and 500 Startups even prior to its launch.
We reached out to Sasha for more details about their expansion plans and the company’s progress, but she’s keeping those under her hat for now.
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