Hypescout Raises 2.8 Lacs in USD in Pre-Seed 

A SaaS-based influencer marketing firm from Bangladesh called HypeScout has secured USD 2.8 lakh in pre-seed funding.

Anchorless Bangladesh, a New York-based early-stage venture capital firm involved in the regional startup ecosystem, led the deal. Green Bridge Capital, a British company, also participated in the round.

Hypescout Raises 2.8 Lacs in USD in Pre-Seed

This round was facilitated and advised by Bangladesh Angels Network, which included participation from Quazi Zulquarnain, Director of Global Strategy and Operations at Uber, Eddie Bearnot, CEO of Frontier Nutrition Inc., S. Nibras Islam, Director at SSL Wireless, and a few other local and foreign angel investors.

HypeScout, which was founded in 2021, allows influencers to monetize their fan bases and connects them with marketers. The SaaS platform guarantees complete control of an influencer campaign for a brand.

The process of finding and managing influencers is time-consuming for Bangladeshi brands and agencies because it necessitates back-and-forth communication with pertinent influencers. Through a standardized, automated screening system and dashboard, HypeScout makes this process easier for brands.

Similar problems arise when influencers look for opportunities for brand initiatives. It can be challenging for micro-influencers with a following of between 5,000 and 50,000 to find the right deals to work with.

By exposing them to brands, the platform offers these micro-influencers the chance to monetize their fan bases.

The platform offers audience information and insights into influencers who are not publicly accessible using a data-driven approach.

Over 4500 businesses are currently served by the business, and about 32,000 influencers profit directly from the site. They have collaborated on projects with companies such as bKash, Nagad, GrameenPhone, Foodpanda, Pathao, Domino’s pizza, Suzuki, etc. International companies like PUBG Mobile and Nodwin Gaming have also signed up for their services.

Several well-known marketing firms have signed up for the services, including Magnito Digital, Axiata Digital Bangladesh, Wavemaker, Asiatic Mindshare, Jarvis Digital, and Roebuck.

Faym Bappi, Co-founder and CEO of HypeScout said,

“We started with only 50 influencers in 2021. The number has reached over thirty-two thousand now. We are serving an array of local and international brands and agencies to find the right influencers for them. With over six years of marketing expertise, I realised that an automated platform like HypeScout was necessary. However, after starting, I realised that we were not only helping advertisers but also inspiring thousands of young and creative content creators, which is overwhelming,”

HypeScout wants to concentrate on advancing product development and keeping an eye on the caliber of influencer content. The team is now developing clever algorithms to aid advertisers in more efficiently locating appropriate influencers for their campaigns. With over 100,000 influencers and businesses on board within the next year, the company is focusing on driving hyper-growth in the market.

Rahat Ahmed, Founding Partner and CEO of Anchorless Bangladesh remarked regarding the investment,

“Consumers in Bangladesh have increasingly higher disposable incomes where everyone is looking for products and services that are unique to them. HypeScout’s technology allows brands to connect with them where both sides benefit,” 

Globally, the influencer marketing market is expected to expand to USD 143 billion by 2030 from its current size of USD 16.4 billion. By developing seamless technologies to bridge the gap between influencers and advertisers, HypeScout hopes to capitalize on this emerging market and help Bangladesh’s influencer marketing sector thrive.