The digital gifting and loyalty platform receives an undisclosed amount of funding from VIISA and VinaCapital Ventures

Digital gifting platform based in Vietnam UrBox announced today that it has closed a seed round of funding for an undisclosed amount from VIISA and VinaCapital Ventures, two Vietnamese VCs.

In an official statement, UrBox shares that the funding it received will be used to strengthen their merchant, create synergies across companies, provide UrBox with access to top talents, as well as expand connection with global tech companies to have a presence in other countries in Southeast Asia.

“The experience in the transition of customer service from offline to online for SMEs has been painfully labored, especially with larger enterprises. We believe that UrBox’s persistence in crafting a better solution for every new business, such as Urbox’s API services, can resolve this problem for B2B clients. Through the Accelerator Program and follow-on investment, we support Urbox in their growth and working with their strategic investor, VinaCapital Ventures, who also believes in Urbox’s mission and team quality,” shared Hieu Vo, CFO at VIISA.

Furthermore, as B2B is their key focus, UrBox will leverage on VinaCapital Ventures and Dragon Capital (VIISA’s founders)’s network to reach more potential and scalable partnerships opportunities and will do so by hiring talents in technology, marketing, partnerships, and business development.

UrBox was first launched in late 2017 as a platform that helps businesses integrate their reward or loyalty program with an ever-growing network of national and international gift suppliers or merchants. UrBox also connects brands with customers through multiple digital channels.

Also Read: Smart retail startup Blue Mobile raises Series C funding from Ant Financial

Using UrBox, customers can receive the gift voucher and store it on their app/phone to redeem at both offline and online store.

Determined to change manual processes in the reward system, UrBox founders initially started out as a consulting agency to build loyalty programs by connecting merchants to big corporates in Vietnam. With its business model, businesses don’t need to deal with each gift supplier or merchant, print out the cash vouchers, pack, and send gifts to customers as it’s all done by UrBox.

To date, UrBox said that it has expanded their gifting acceptance with merchant network of hundreds of lifestyles brands and nearly 3,000 outlets across Vietnam, ranging from Dining & Drinking, Shopping, to Online.

UrBox claimed to be serving more than 30 top corporates in different sectors from banking, telco, insurance to tech companies.

e27 previously reported that VinaCapital Ventures made an investment in Wee Digital and UrBox just a week prior to this news.
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Image Credit: UrBox

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