Jaclyn Tiu · · 1 min readVietnamese digital gifting startup nabs seed funding to expand into SEA
Vietnam-based digital gifting and loyalty platform UrBox has raised an undisclosed amount of seed funding from local venture capital firms VinaCapital Ventures and VIISA. This marks the firm’s first financing round.
Photo credit: UrBox
The cash infusion will allow UrBox to hire more technology, marketing, and business development talent and expand to other countries in Southeast Asia. VinaCapital Ventures and VIISA’s experience in Vietnam will also help the startup close more partnerships, UrBox said in a statement.
Launched in 2017, the startup helps connect businesses with gift suppliers and merchants to enhance their rewards and loyalty programs. It also allows brands to reach customers directly and offer them online vouchers or e-gifts via SMS or email. Customers can then redeem these vouchers in offline or online stores.
Since inception, UrBox has expanded their merchant network to 3,000 outlets across Vietnam. These merchants include 7-Eleven, Family Mart, Shopee, and Grab, among others. It also has 30 corporate clients.
Editing by Charmaine de Lazo
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