Iella Peter, COO and co-founder of BloomMe, tells us about setting up Hong Kong's innovative beauty app, BloomMe, and shares her top tips for dealing with potential investors.
What is your business?
BloomMe is the beauty booking app for Hong Kong. Our app connects thousands of high-spending spa-goers with a selection of handpicked spas. BloomMe users can access the app anytime, anywhere to browse and book spa treatments. Bookings are paid for directly via the app to maximise the convenience factor for our busy customers. Bookings can be made last minute or up to 48 hours in advance. Gone are the days of language barriers, tedious phone calls and hiding under desks to call spas at the office! BloomMe is now part of the daily routine for many Hong Kong women on the go. And we are ever thankful for their support.
What type of funding did you raise?
Our start up was funded by Angel investors.
What is your #dreambig for your company?
To be the number one beauty booking solution throughout Asia. Hong Kong is just the start for us!
How did you become 'investor ready'?
By having a product that is attractive and by being prepared for all types of investors. There are those who are clearly interested in exit strategies and would like to see those in the presentation, then there are those who see it as a negative if you even mention exit strategies because it looks like you don't believe in your product. The key is to understand the focus of each individual potential investor and to present your ideas to them in a way that sparks their interest. You need to be focused and concise - be on point!
Any tips you can share about getting funded?
Just continue pitching, never let yourself stop. With every failed potential investor meeting, you'll learn what to do better next time. And eventually you'll find an investor that matches your 'spirit' and your company matches him/her.