Kaodim, the Malaysia-based home services platform, has raised $7 million capital led by Square Peg Capital, a global fund headquartered in Australia, and an affiliate of PE fund SIG Asia Investment. The latest round takes the total investment in the startup to $11.5 million. It expects to invest the capital on marketing, developing its products and expanding into “under-served markets. Founded in 2014, Kaodim is a service for booking for hiring a range of services that include cleaning, moving, appliance care, and even photography.
Jeffri Cheong, MD of Kaodim Group, commented that “Our vision is to provide a faster, more dependable way of hiring a broad range of services; from cleaners to personal trainers. Square Peg Capital and SIG’s experience and expertise in investing in marketplaces around the world will help the Kaodim Group achieve this”. He further added that “The team have executed brilliantly to build Kaodim into the regional leader in its category. The business is scaling well across the region and is showing strong marketplace fundamentals”. The startup competes with rivals like RecomN, Helpster, ServisHero and others in a region of over 600 million people and rising consumer spending.