Indonesia-based TipTip, a monetization platform for content creators in Southeast Asia, has raised US$13 million in a series A round led by East Ventures and joined by Vertex, SMDV, and BIG Ventures, among others.
Photo credit: TipTip
TipTip provides a platform where influencers can create content and connect directly to their fans. The company has established an online-offline presence across 40 cities in Indonesia.
The firm said it currently houses over 2,500 content creators and more than 30,000 users. It aims to have 30,000 influencers and 300,000 users by early next year.
The company said revenues grew more than 20x since October 2022.
Albert Lucius – a former Grab director – founded TipTip in October 2021, but its platform officially launched in July this year. Lucius was previously CEO of Kudo, an online-to-offline platform acquired by Grab in 2017.
Lucius added that the company will use the new capital to bolster its offerings, boost adoption, and scale further.
TipTip last raised funds in March, securing US$10 million in seed funding from East Ventures, Vertex Ventures, Emtek Group, and SMDV.
See also: These are the most active investors in Indonesia’s startups
Editing by Lorenzo Kyle Subido
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