Filipino loyalty and e-commerce platform ZAP has secured an undisclosed amount in Series A funding from True Digital Group (TDG), the digital arm of Thai telco True Corporation.
ZAP will use the capital to become a one-stop shop that captures every interaction between customers and merchants, adding value through various tools and services offered.
“To help close the gap in consumer’s digital journey, we see a very hopeful opportunity with ZAP as the local market expert. We believe that together, we will be able to deliver an exciting experience for consumers in the Philippines,” said Dindo Marzan, True Digital Group Country Head in the Philippines.
Started in 2013, ZAP has developed a platform primarily to help bring F&B merchants of any size online. During the pandemic, the company pivoted and launched E-Store service in June 2020. Since then, its business has grown 5x, from supporting 75 stores in August 2021 to 483 F&B companies.
ZAP currently works with over four million users and 2,000 stores.
“Our initial investment in ZAP was backed by the belief that their platform could digitise the Filipino consumer and enterprise experience,” said Minette Navarrete, President of Kickstart Ventures. “Over the last decade and through a pandemic, they’ve continued to prove the value of their unified data and analytics platform that has provided enterprises with a strategic advantage to develop and promote consumer products.”
ZAP was a part of Kickstart Ventures’s inaugural batch of portfolio companies in 2012. Kickstart, the corporate VC arm of Globe, invests in early to early growth-stage tech startups in the Philippines and globally, including startups in major innovation hubs like Singapore, Indonesia, Malaysia, Canada, the United States, and Israel.
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