UAE-based social app ASKWHO raises $1M
Social app ASKWHO will use the $1 million funding for expansion in the US market.
, a UAE-based social app, has raised $1 million in funding. Of that, over $515,000 was raised through crowdfunding.
The funding round has brought 57 new investors into the company, which plans to use the funds to expand into the US market. The company said the investment will be a boost to expand into new markets and also improve growth and business models.
Founded by Mike Askew and Matt Gaziano, the startup uses community-focused initiatives to help people make friends and organise get-togethers. It allows people to meet instantly and discover cities that they can experience through different events, topics, and groups.
The founders believe the current platforms do not give people the option to discover their cities with different like-minded people. They added that people looking at ways to get away from entertainment platforms and focus on human interaction. The new wave of social media is more about making more exciting and deeper connections with one another.
In 2022, the team stated that the platform reached its product-market fit and also SaaS revenue in place.