Aditya Hadi Pratama · · 1 min readEx-Snapcart CEO’s coupons startup bags $900k from Cocoon Capital
Shoplinks, a Singapore-based marketing startup, raised US$900,000 in a seed funding round led by Cocoon Capital. Indonesian Women Empowerment Fund, a joint venture fund between Moonshot Ventures and YCAB Ventures, also participated in the round.
Michael Blakey, managing partner at Cocoon Capital, joined Shoplinks’ board of directors following the deal.
Photo credit: Shoplinks
Shoplinks helps brands and retailers of fast-moving consumer goods (FMCG) distribute personalized coupons and increase marketing efficiency. It was founded in 2019 by Teresa Condicion and JD Lee, serial entrepreneurs who were formerly the CEOs of marketing startup Snapcart and venture builder Pulsar Ventures, respectively.
The startup currently works with major FMCG brands in Indonesia, such as Procter & Gamble, Unilever, and Johnson & Johnson. Since its inception, Shoplinks has processed thousands of coupon redemptions each month.
Shoplinks will use the fresh money to hire more employees, invest in product development, and expand its business in Indonesia, before entering new countries in Southeast Asia. On top of serving big retailers, the startup also wants to tap into the mom and pop stores or warungs segment.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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