Tuesday, April 23, 2024

Pinoy startup unveils loyalty rewards app, bares P17-M in new funding

Mobkard, a location-based mobile loyalty solutions provider and part of the first batch of startups of tech incubator Ideaspace, announced on Tuesday, July 28, that it has successfully concluded a new P17-million round of funding led by digital signage firm Globaltronics.

Photo shows (from left) IdeaSpace president Earl Martin Valencia, Globaltronics CEO William T. Guido, and TheKard co-founders Francis Uy and Carlo Calimon
Photo shows (from left) IdeaSpace president Earl Martin Valencia, Globaltronics CEO William T. Guido, and TheKard co-founders Francis Uy and Carlo Calimon

The new round of funding allows the company to expand its location-based loyalty solutions particularly through the launch of the official Mobkard app, which provides users with the latest deals from the various brands that are near their current location using only their smartphones.

?Everyone loves a good deal, and sometimes many consumers miss out on discounts and other privileges simply because they are not aware of them when they enter a particular store,? said Francis Uy, CEO and co-founder at The Kard.

?Mobkard brings this wealth of knowledge closer to users through a device that is closest to them?their mobile phones. With Mobkard, there?s no more need to carry discount vouchers or loyalty cards around, because all of the latest deals near you can now be found with just one tap.?

Users can download the app from the Apple App Store or the Google Play Store to get access to shopping information, exclusive privileges and deals, from a wide array of brands across multiple categories.

A particularly helpful feature of the service is the ?near me? tab that allows one to see what?s on offer in the immediate vicinity ensuring consumers get useful information, provided at the right place and at the right time.

The company has partnered with retailers such as Vans, LayBare, 360 Fitness Club, Bizu Patisserie, Nurture Wellness Spa, MedExpress, Sunglass Haven, and Dillinger?s, among many others, to provide discounts and other privileges.

Initially concentrating on the so-called B to C (communities) market, Mobkard has in the past provided location-based mobile loyalty solutions to over 14 businesses and organizations such as the AIM Alumni, Ateneo Graduate School of Business Alumni, La Salle Green Hills Alumni, PLDT SME Nation, SM Global Pinoy, and others, together with the participation of more than 200 merchant partners.

?We saw the benefits of our service to these communities and realized that we had an amazing opportunity to make a difference in the way buyers and sellers interact through the mobile space,? Uy explained.

?Through the app, we allow sellers to easily reach, understand, and engage customers in a way that has never been done before. And because it is cost effective, we are able to pass on better rates and privileges to consumers which allow them to save on other things that matter to them.?

Uy said that with smartphone penetration expected to reach 60% by the end of the year, brands and businesses need to be proficient in the mobile space given the emergence of the so-called ?mobile-first generation.?

The Kard was part of the initial cohort of startups that won in the 1st IdeaSpace Startup Competition.


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