Venture fund Softline Seed Fund (investment partnership created by Softline Group of companies and RVC Seed Fund) announced the investments into Business Family Company. The Fund will receive a share in the project in the amount of 7% for 7.5 mln rubles.
Business Family Project was founded in 2012. This is a business social network and at the same time a club for off line meetings of entrepreneurs and middle and top managers of major Russian and foreign companies. The project has about 200 thousand registered users. In Business Family Club the meetings are organized in 20 fields (finance, oil and gas, auto, etc.). Their goal is to help the participants to expand their business contacts. The project works on MeetFormer technological platform, which introduces each new comer to the guests, provides him with useful contacts and offers to use paid services.
Business Family operates in Moscow and in five regions of the Russian Federation.
The investments received by Business Family are used to scale the business – improve service technological platform, create a new website and mobile application, as well as to expand the sales-team. The investments will be provided in several tranches. Each tranche will be transferred subject to the project team's compliance with key performance indicators.
"The Business Family has an original business model - it's a business social network with a significant off-line component plus b2b marketing platform. The project has been tested by the market. The founders can successfully earn from the users, as well as collaborate with brands by selling them the opportunities to promote their business among the Business Family audience. Now the project needs assistance with scaling and technological content. This is exactly what our fund's team can do very well", – says Elena Volotovskaya, Softine Venture Partners Director.
The founders of Business Family are Alexey Zharkov and Artem Zvezdinsky.