Earlier this month Zeely announced the completion of a $1 million round of funding to develop further its mobile web store and ad builder for small business owners.
The Ukrainian-founded, US-headquartered startup was backed by Vesna.Capital, Angel One Fund and ZAS Ventures, three funds with Ukrainian roots; Imaguru Ventures, based in Spain with Belarusian roots; as well as Murat Abdrakhmanov, a prominent Kazakhstani investor, and Adrian Slywotzky, an American consultant of Ukrainian origin.
Founded in 2021, Zeely expects to generate $3 million in annual recurring revenue this year, TechCrunch reported. It claims its technology allows entrepreneurs to build online stores and mobile apps “in seconds.”
Zeely also helps them promote their businesses on social media platforms, while AI-powered functionalities “automatically generate text and visual content for web stores and ad creatives.”
Most Zeely users are from the USA, the UK and emerging markets such as Brazil and Mexico.
“Most of our Latin American users opt for the free version of our product,” said co-founder Alina Bondarenko in an exchange with TechCrunch. which offers a lot of functionality.
While monthly subscription plans start at $19.99, targeting essentially US and UK users, Zeely plans to “introduce more affordable pricing plans for the LatAm market,” said Bondarenko.
The fresh capital injection will support Zeely’s R&D effort, which includes integration with payment system and social media as well as further AI developments.