Home Business NewsBusinessBusiness Growth News fibodo reports 363 per cent revenue growth

fibodo reports 363 per cent revenue growth

by Peter Smyth Tech Journalist
27th Jun 19 1:30 pm

Technology business, fibodo has reported strong revenue growth figures and a headcount boost as it looks towards its fifth year in business.

fibodo is a fully-customisable SaaS booking management platform which connects time-based service professionals with their customers. This helps business owners reach new audiences, save hours of administration and reduce costs to increase earnings.

The company reported a 363% rise in revenue between 2017-18 and 2018-19, whilst also seeing the average price of client bookings increase to over £25. Latest figures highlight both the sustained rapid growth in the number of professional users, as well as the ongoing increase in client bookings made through fibodo’s platform.

fibodo recently introduced two new products to the market Studio and Booking Hub, which aim to bring the booking management ecosystem under a single roof. Both are serviced by a white-label proprietary customer booking app. This is already helping to drive customer use, with the number of paid-for bookings through the platform increasing by 453% year-on-year.

fibodo also has plans to increase full-time staff members from eight to 22 before February 2020. To kick-start this process, it has recently brought on a new sales manager, Rajan Popat who joins from engagement specialist, Xexec. He will work directly with the business development directors and be responsible for the account management team, looking after the needs of all fibodo clients.

The business initially targeted the UK fitness industry, with a goal to quickly establish itself within other activity sectors as the UK’s leading booking management platform.

Anthony Franklin, CEO and founder of fibodo said, “We’ve been on an exciting journey over the past five years and are now ideally placed to scale. New team members are providing the in-house capability that we need to drive robust growth – with a strategy to continue making key appointments in the short to medium term.

“Our SaaS solution is valuable, viable and relevant as the world continues its move towards service-based businesses. Organisations are increasingly aware of the value that their ’service professionals’ and the impact an engaged team can have on their bottom line.  As they seek to comply with the latest employment legislation updates, most notably IR35, fibodo offers the perfect ‘plug and play’ solution. The next 12 months promise to be an exciting time for fibodo, so watch this space.”

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