Zolo, Indian on-demand talent marketplace where people can discover, buy and sell unique talents and skills raised undisclosed amount of seed funding from Switzerland based Software company Hitouch AG.
Hitouch AG sees an amazing opportunity of funding in India and specially the upcoming services sector. The CEO Oliver Westphal believes that Zolo can be the next revolutionary company in the sharing economy and thus makes its first investment.
Zolo connects the two parties; the service and goods providers and the folks that need these service and merchandise and acts as the intercessor, as the middleman, eliminating the headache and fuss caused by negotiations and making payments. Zolo handles the whole fussy and worrisome task so that all the entrepreneurs can focus on your core capabilities, skills, and talent and deliver quality results and surpass as professional businessmen.
Oliver Westphal, CEO, Hitouch AG, says "We see Zolo as eBay of services with a huge potential & touch millions of lives once it goes global"
With the funding amount Zolo intends to expand to other cities after establishing its base in Delhi-NCR. Also, Zolo intends to add more categories services under its kitty from current number i.e. 8. Apart from the funding, Zolo is a continuous Cash Flow model currently making 7-10% on every transaction.
“Zolo intends to capitalize on the growing trend of people looking to start their own business and work at their own convenience. We like to think of ourselves as a platform for solo entrepreneurs helping them build an income and a growing personal brand for long lasting success. We're also launching dedicated platforms like Zolo Homes, Zolo Skills, Zolo Rentals, Zolo Academy, Zolo Lounges & Zolo Eat to build a holistic environment with space, technology and marketing for solo entrepreneurs to build a business on their core competencies and leave the rest to us.” - Mr. Satayu Basu, Co-founder and CEO, Zolo.
Commenting on the launch, Mr. Manish Tahillani, Co-founder & CMO, Zolo says, “Zolo aims to revolutionize the service industry by empowering talented individuals to follow their passion and share it with the world - as we truly believe passionate people are the ones that eventually change the world. With our unique pre-packaged gig model along with other innovative features Zolo intends lead the 'service-as-a-product' revolution in India.
Zolo is a commission-based model making around 10-20% from vendors on each sale they make through the platform. By March 2017, Zolo is expecting a revenue of $12-15 Million GMV.
