Snap, the innovative beauty and wellness booking platform in Cyprus, has achieved a significant milestone by surpassing its crowdfunding target on Crowdbase. The campaign successfully raised €212,061 via 44 investors, exceeding the minimum goal by 106%. This remarkable achievement highlights the strong market demand for a comprehensive platform like Snap and showcases the power of crowdfunding in fueling startup growth. With its revolutionary approach, Snap is poised to reshape the beauty and wellness industry in Cyprus.

In the rising startup ecosystem of Cyprus, crowdfunding has emerged as a powerful tool that empowers entrepreneurs and fosters innovation. By leveraging the collective support of individuals, crowdfunding provides an alternative financing method that allows startups to access capital and gain market traction. In this landscape, Crowdbase, Cyprus' first investment-crowdfunding platform that is also regulated by CySEC, plays a crucial role in connecting entrepreneurs with a diverse pool of investors.

One notable campaign on Crowdbase was the easyBoat campaign, which exemplified the platform's ability to drive crowdfunding success. This campaign successfully raised €469,718 from 141 investors, demonstrating the potential for startups to leverage crowdfunding to fuel their growth. 

Crowdbase founder, Frixos Larkos, stated “We're incredibly proud to have supported Snap in their successful fundraising efforts, and we eagerly look forward to seeing them embark on this promising journey to success.”

It’s noteworthy that Cypriot startups are no strangers to crowdfunding. Examples include World Wide Buddies and their Book of Cultures project, which garnered $164,370 from 3,335 backers on Kickstarter, and Hegemony board game, which achieved €600,369 pledged of its €15,000 goal with the support of 10,801 backers on Kickstarter, showcase the success of crowdfunding in the Cypriot startup ecosystem.

Snap's business model centers around providing a comprehensive and user-friendly platform for consumers and businesses in the beauty and wellness industry. The platform addresses the logistical challenges faced by consumers and businesses, offering a streamlined solution for booking services. For consumers, Snap offers an intuitive interface where they can easily browse, compare, and book a wide range of beauty and wellness services. On the other hand, businesses benefit from increased visibility, streamlined management tools, and the ability to maximize resource utilization.

Antonis Neocleous, Co-Founder of Gain Ventures, the startup studio launching Snap, expressed his contentment, stating, "This achievement represents a dual success, validating the market need for Snap's comprehensive beauty and wellness booking platform and showcasing our venture studio's ability to identify and launch successful companies that meet market demands."

Initially, Snap generates revenue by charging a 12% commission on bookings made through the platform. As the platform grows, Snap plans to create additional revenue streams by introducing a Software-as-a-Service (SaaS) model for its booking platform and earning commissions on product sales. This multi-faceted revenue model ensures the sustainability and scalability of the platform.

Looking ahead, Snap has ambitious plans to further enhance its platform and expand its market reach. With the funds raised through the successful crowdfunding campaign, Snap will focus on amplifying its marketing efforts to increase brand awareness and attract a larger user base. By onboarding more merchants onto the platform, Snap aims to offer a wider range of services to consumers and become the go-to platform for beauty and wellness bookings in Cyprus. Continued investment in platform development will enable Snap to introduce new features and enhancements, ensuring a seamless and convenient experience for both consumers and businesses.