Supporting innovative Lebanese initiatives has always been one of our mission’s principle pillars and core values. This has been reinforced thanks to the Central Bank Circular 331, through which BLC Bank was able to actively assist startups in securing capital injection in all knowledge economy sectors including ICT, education, green growth, medical, chemical, and creative industries.
Among the first projects to benefit from this initiative was Feedeed, a platform surfing on the uberization of services. Just like some platforms link a tourist searching for a place to stay and a local wanting to rent his flat / house or someone looking for a ride with the closest driver around, Feedeed is here to help businesses that need to outsource some of their work by helping them find the freelancers looking for new projects to develop their portfolio and widen their scope of clients.
We sat with Feedeed Founder and CCO Romy Saber and discussed the team’s journey and the ways in which our boost helped them.
How does Feedeed actually work?
All a business owner has to do is to present the project he needs help to complete. Once this is done, Feedeed will match them with the freelancer that best suits their needs. On HR service platforms, clients know exactly what they need. This is not the case on Feedeed, where more attention is given to the end product rather than the skills needed to complete it.
How did it all start?
It all started with three friends dreaming to launch a startup of their own. Dany Abu Jawdeh was working at Lebanese accelerator Seeqnce and he had an overall view of the startup scene. We knew it had to revolve around freelancing and helping young talents in Beirut benefit from new opportunities by offering them an online platform that would help them sell their skills.
Together with Fidaa Ghibreel and I, he founded Feedeed with the aim of bringing to life the concept he had in mind.
What was the decisive moment that really launched Feedeed?
In 2014, we got the chance to be part of the Oasis500, the leading company in seed investment and startup acceleration in MENA. We were able to add $30,000 This to the $25,000 we had already gathered and gained access to mentorship, advisors and networks as well as the chance to partake in many competitions. With these tools in hand, we launched our website after the four-month incubation during August 2014.
How did the platform evolve from its initial concept?
Once we launched Feedeed, nothing happened. We thus implemented a concierge feature that enabled people to let us know what they were looking for. And they started asking for the same services that those available on the website. The data collected therefore played an important role in restructuring Feedeed. It’s the users who reshaped the way the platform works!
What major challenges did you have to face during your startup journey?
Building the right team & surrounding ourselves with the right skills was a crucial aspect of our journey. Also, the startup ecosystem isn't that big & needed resources aren’t easily available. We notedly faced difficulties in raising big investments because of the lack of available funds in the region. Add to this the high fees for business registration & licensing and Lebanon’s notorious slow internet & high office costs and this give you a holistic idea of the loops we had to jump through.
When did BLC Bank become part of the journey?
It is in late 2015, during the first edition of BDL Accelerate that Feedeed and BLC Bank met. Today, thanks to the Bank’s $300,000 investment, Feedeed is A startup in its growth phase that managed to bring new people on board and to launch its very own mobile app. We plan to grow bigger and stronger in Lebanon and to reach new countries, namely Jordan and the UAE.
Today, Feedeed gathers 180 freelancers and caters to the needs of more than 200 clients. It’s the perfect place for freelancers to grow their portfolio and increase their flow of projects all the while guaranteeing to businesses quality work done for a fair price. And they’ve got news for businesses that come via BLC Bank:
- A 20% discount on the first project.
- A “startup package” which consists of a “Logo” and a customized “Landing Page” for only 400$.
Hurry up; it’s valid till August 31st!!
Visit Feedeed: www.feedeed.com