Azerbaijan’s startup Keepface attracts investment from UAE

Baku. 25 January. REPORT.AZ/ Keepface, a startup of Azerbaijan, has attracted investment from the United Arab Emirates (UAE).

The founder and executive director Vagif Abbasov told Report that Keepface signed an investment agreement worth $ 300,000 with a private investment fund operating in the MENA (Middle East and North Africa) region.

According to the pre-investment assessment, the cost of the startup is $ 2 mln.

The funds will be used to develop the Keepface platform and expand the service area. In the next plan, the access to Russian market and other Arab countries are expected. The most of the investment will be spent on technical expansion of the GPS platform”, he said.

Notably, Keepface is an Azerbaijan startup with headquarters based in Dubai, Turkey, Iran, Central Asia and the Caucasus countries. The company started to operate at Baku Business Factory (BBF) a year ago. Keepface is an automated platform for Influencer Marketing, a trend marketing strategy worldwide. Influents on this platform - users who have many followers on social networks (celebrities, bloggers, journalists, experts, active groups and pages) and brands carry out social media campaigns. At present, Keepface is rendering services to over 30 local and international companies and agencies in the region.

Notably, Baku Business Factory was established in May 2015 with the initiative of Azerbaijani businessman, founder of the "Union Grand Energy PTE" group of companies Anar Alizade. Main purpose of the BBF is to support young people with perspective business ideas at the initial stage and create conditions for the fast implementation of the projects.