TADA Announces Funding from Giftee, Available in Malaysia and Vietnam
Loyalty and rewards platform TADA announced additional investment received from Giftee, Inc., an end-to-end Japanese e-gift company, with an undisclosed amount.
This new round of funding will be allocated for further technology upgrades, as well as expanding the company’s presence in regional markets.
TADA is Giftee, Inc.’s second portfolio. in investing in startups in Southeast Asia after AdEasy, a Malaysian startup in July 2020.
Giftee is an end-to-end e-gift platform that provides solutions from issuance to distribution since 2010. The company has been listed on the Japanese exchange since 2019.
In 2018, the company expanded to Malaysia (Giftee Malaysia) and the following three years was present in Vietnam (Giftee Mekong) through a joint venture between Giftee Malaysia and Mekong Communications.
TADA and Giftee are companies with a cross-cutting business focus. TADA focuses on loyalty and rewards platforms that enable businesses to build deep relationships with customers to employees.
Not only that, TADA connects businesses to collaborate on its network. The company has served more than 400 clients across multiple verticals.
Some of the names, are Allianz, AXA, DBS, Castrol, UOB, Kalbe Nutritionals, Exxon, and Erha Dermatology, and more.
Started Expansion to Malaysia and Vietnam since August
This investment also marks TADA’s expansion into Malaysia and Vietnam which began last August. In its early stages, the TADA platform is connected to the e-gift services Giftee Malaysia and Giftee Mekong.
The new solution is expected to help increase customer loyalty in each country. Furthermore, the Giftee Group will expand its business solutions with TADA in other countries in Southeast Asia.
In an official statement, TADA CEO Antonius Taufan said, “We are optimistic that our partnership with Giftee will be able to offer a smart and complete solution for loyalty programs in various business landscapes.
“With the funding, expertise from Giftee, and a strong market fit, we are confident that TADA will double down on product innovation and seek to aggressively expand our presence internationally,” he said, Thursday (16/9).
Giftee CEO Mutsumi Ota added, “TADA is one of the leading loyalty and reward platforms, offering a variety of features, including subscriptions, memberships and referrals.
“Through this capital and business alliance, we are looking forward to collaborating with TADA, especially in the Southeast Asia region, by connecting the e-gift platform business, e-gift service and TADA platform,” concluded Ota.
In April, TADA announced Series B1 funding led by MDI Ventures, with the involvement of Telkomsel Mitra Innovation (TMI) and previous investors, Finch Capital and Sovereign Capital.
Loyalty Program Opportunities
Tada launched a solution for businesses, namely channel incentives. This solution is a way for business owners to make their channel or co-workers feel motivated and motivated to perform better.
The implementation of channel incentives is mostly done to colleagues or work partners who can sell a product continuously in large quantities in a short time. In addition, channel incentives function to motivate resellers to achieve higher targets than before.
The startup, formerly known as Gift Card Indonesia (GCI), claims that channel incentives solutions increase loyalty by encouraging partners to do more and reward them by enabling their clients to manage customers by offering a variety of loyalty solutions such as memberships, referrals, subscriptions, and digital gifts.
Not many local startups are playing in the realm of loyalty. Besides TADA, there are GetPlus, Member.id, and OttoPoint.
Earlier this year Member.id just announced series A funding obtained from East Ventures and Traveloka. OttoPoint is part of the fintech division of the OttoDigital Group, a subsidiary of the Salim Group.
Industrially, loyalty programs are one of the sustainable and long-term-oriented marketing strategies. Companies can also find out customer insight through the program.
According to research released by Wirecard, 75% of customers decide to make a purchase, after receiving a reward from a certain brand.