UAE-based neighbourhood app has successfully secured an undisclosed amount in the seed round from Plus VC, a leading venture capital firm that invests in early-stage, tech-enabled startups in the MENA and its diaspora, with participation from prominent regional angel investors.
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The newly raised capital will be deployed to scale up its operations, grow its marketing activities, and expand its footprints across the UAE and beyond. This funding round follows It’s achievements in crossing several noteworthy milestones in the past year. Hayi has also consistently recorded positive cash flow over the past several months, thus growing into a profitable and sustainable business.
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“We are honoured to have such strong investors who recognize Hayi’s early achievements, are confident in our growth potential, and actively support our vision and values. Their backing and support will help us achieve our short-term and long-term objectives and pioneer in this space,” said Chris Darnell, co-founder at Hayi.
Commenting on the fundraising announcement, Hasan Haider, Managing Partner +VC, said: “Community-based apps are gaining traction as there is a growing demand for people to communicate with others in their vicinity. This is evident from the growth Hayi has witnessed month over month. Platforms such as Hayi have great potential for growth as more and more people seek strong neighborhood connectivity, a sense of community and belonging, and improved safety and security. We are delighted to collaborate with Chris, Rene, and their team as they expand their footprints across the UAE and beyond and position Hayi as a trailblazer in this field.”
About Hayi
Founded in 2020 by Chris Darnell and Rene Morgan, Hayi is a free, hyperlocal social network for neighbourhoods in the UAE. The mobile application provides neighbours with an exclusive platform to connect, share information and befriend those in close proximity. It is a safe neighbourhood platform for people to connect with those who are physically closest to them and create a sense of belonging to a real and dynamic community.
