Manila-based Startup ZAP Secures $850,000 For Southeast Expansion.
A Manila-based startup by the name of ZAP, has recently announced the successful raise of over $850,000 from Siemer Ventures, Seawood Capital, local angel investors, and Kickstart Ventures.
This recent round of funding shall allow the allow the startup to expand its service nationwide, with plan for an expansion throughout the entirety of Southeast Asia by 2015.
Zap is a marketing platform with is main focus being loyalty and rewards, by utilizing ZAP tag in its approach to consumers who use NFC Stickers. it’s been designed to connect retailers and consumers through a mix of web and mobile technologies, yet continue to remain modestly autonomous form these platforms an minimize the risk of having to rely upon external vendors while making payments and managing loyalties and rewards.
This second round of funding is focused on developing scaling and further building customer engagement, as well as accelerating overseas expansion by the Filipino venture. Expanding beyond its current sphere of over 350 partner establishments in Metro Manila, its goals are to reach its target of 1,200 partner establishment across other important cities by the end of this year.
The CEO of ZAP, Dustin Cheng, shared, “Merchants have been reaching out to expand our services in their other branches outside Metro Manila for quite some time now. Closing this round allows ZAP to be present in key cities in the Philippines such as Cebu and Davao by the third quarter of this year.”
ZAP allows consumers from a broad market base to utilize it, given the minimal amount spent for a single ZAPtag ($2.28). Merchant who partner up with Zap do not need to pay any sort of subscription and get Zap terminals for free, further inciting them to adopt its use, given the advantages gained in allowing them to manage their loyalty program and track consumer trends through the use of ZAP.
Zap has also planned to launch a coupon feature, allowing merchants to post promotional online coupons that ZAP user can collect and save onto their ZAP account. By utilizing these coupons, they’ll simply be able to go to the merchants store, entire their mobile number or tap onto their Zaptag and their coupons can be accessed. Merchants shall receive reports on their usage rates, the demographics of coupon users and will be able to aim for these customers as needed.