Member Article

Playtech founder’s startup launches in London following seven-figure investment

Following a successful launch and sustained growth in Israel, Funzing was launched in the UK in July 2015, starting with events specific to Greater London.

Founded in 2014, Funzing is an online community sharing marketplace, which will provide Londoners with a platform to promote and discover a variety of unique activities, events and experiences.

Started in Israel by Avigur Zmora, former CEO of the world’s largest supplier of online gaming and sports betting, PlayTech, the idea for Funzing was based on the concept of sharing economies and came about when Zamur became frustrated with the repetitive activities offered by other events websites.

With support from venture capital firm, Inimiti, Zmora was able to raise $1.5 million to launch the Funzing website in June 2014.

What differentiates the Funzing offering from other events websites is two fold; first, is its ability to filter activities by matching them to different ages – from children, to teens or adults – as well as being able to divide results further based on location, distance from the user’s home and date.

Zmora explained: “Funzing disrupts the mainstream leisure time world by providing anyone a risk and hassle free platform with which they can upload photos, describe activities, and list prices and location. Then, we promote and advertise their activity on our website, social networks as well as through PR.

Funzing acts as a community for both event hosts, who range from small business owners to enthusiasts sharing their interest, and users/consumers. The startup creates a network where like-minded people can share their interests – helping hosts to make financial gain from their passion and users to find unique events to attend.

Free for users and hosts to register, activity organisers are paid by credit card via the website, and the company serves as payment processor. The business model is based on charging 20 per cent of the event organizer’s revenue, and each activity that is uploaded is verified through a conversation with its creator, and an inspection of the workshop itself.

Events on the site include salsa lessons, vegetarian cooking classes, go-kart driving lessons, an introduction to agri-circus, photography workshops for kids and more.

John Bell, host of ‘Smartphone Photography Sessions’, commented: “Funzing allows me to do what I love and to share my knowledge with others. The system is very easy to use and it made it possible for me to expand my reach to a wider audience.”

“You get easy access to a world of business from something that until now was your passion or your hobby, and you can make money from it, without investing in your own website, or in marketing or advertising it.”

This was posted in Bdaily's Members' News section by Ellen Forster .