Participated · Series B · Nov 2021

FunNow is an instant-booking app for spontaneous users to reserve last-minute activities and services such as restaurants, manicures, haircuts, massages, and short hotel stays. The Taipei-based startup operates in Taiwan (its biggest market), Hong Kong, Japan and Malaysia and maintains local teams in some markets. During the COVID-19 pandemic FunNow adapted its product by adding takeaway bookings and daytime hotel options (four, six or 12-hour stays), and it expanded Malaysian operations via the acquisition of Kuala Lumpur-based TABLEAPP. Revenue in Taiwan declined sharply during lockdowns but has recovered to about 80% of pre-pandemic performance. FunNow plans to add more categories (night clubs, karaoke bars, catering) and enter new countries, including Thailand and Singapore. The company emphasizes daily-life, instant reservations to differentiate from travel-focused competitors that have shifted into staycation and local booking markets. FunNow operates an instant-booking platform focused on locals rather than tourists, offering last-minute hotel rooms, restaurants, massages, spa services and events. The company says it has 500,000 members, 3,000 vendors and over 20,000 activities and services available daily. User engagement metrics are high: 70% of monthly GMV comes from repeat customers, about 60% of people make another booking within 30 days, and roughly 80% of bookings are for the next hour. FunNow uses a patented algorithm to show real-time availability (search results update in under 0.1 seconds) and syncs with merchant databases to prevent overbooking. The platform screens vendors and will delist businesses that rate below 3.5 stars. FunNow launched in November 2015 and plans expansion into Southeast Asian and Japanese cities including Hong Kong, Okinawa, Kuala Lumpur, Bangkok, Osaka and Tokyo, and expects revenue of $16 million in 2018 (three times 2017).