Shoplinks Bags US$900,000 from Cocoon Capital and IWEF
Summary
According to Teresa Condicion, co-founder and CEO of Shoplinks, FMCG brands in Southeast Asia spend around US$28 billion annually on promotion. Also Read: Cleva Raises US$600.000 in Funding from Choco Up Shoplinks processes thousands of shopping coupons usage which is doubling every month. Teresa gave an example, the supermarket chain TikTop in Jakarta, for example, last month managed to grow their shopper transactions by more than 30% thanks to the use of cashback from Shoplinks. Teresa, who has worked at P&G for 17 years with her last position as head of retail and shopper analytics for Southeast Asia, said she would use the funds to strengthen Shoplinks’ foothold in Indonesia before expanding into other regional markets. Adele Tanuri, Head of Impact Investments YCAB Foundation who is joint fund manager for IWEF, also said that the funding at Shoplinks is in line with IWEF’s mission to support women entrepreneurs across Indonesia.● Press the “bell button” on the left side of your screen to get notifications for the latest TechnoBusiness news faster.