Thai telco’s digital arm backs Philippine rewards platform

Zap, a loyalty and ecommerce platform based in the Philippines, has raised an undisclosed amount in series A funding from True Digital Group (TDG), the digital arm of Thai telco major True Corporation.

Photo credit: Zap

Since 2012, Zap has been helping food and beverage (F&B) merchants add rewards and loyalty programs to their businesses. The company, which took part in the inaugural cohort of Kickstart Ventures, said it now works with over 4 million users and 2,000 stores.

In June 2020, Zap – in partnership with Shopify – launched its e-store service that helps clients accept, fulfill, and deliver orders. In a little over a year since its launch, Zap said the business has grown 5x to onboard 483 F&B companies in the Philippines.

The company was founded by Angelique Uy, Dustin Cheng, Justin Lim, and Terence Lok. Cheng, who serves as Zap’s CEO, co-founded and was the CEO of Philippine daily deals website Deal Dozen, which was acquired by Asia Deal Group in 2013.

Zap plans to use the capital to add new features to its end-to-end platform. “These include richer analytics and remarketing and targeting features that will help partners foster better customer relationships and ultimately increase sales,” said Cheng.

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