TADA Announces Series B1 Funding, Strengthens Business Presence in Southeast Asia

TADA, developer startup customer retention platform, announced that it has secured series B1 funding. This investment round was led by MDI Ventures, with the involvement of Telkomsel Innovation Partners (TMI) and previous investors namely Finch Capital and Sovereign's Capital.

In addition to upgrading its technology platform and infrastructure, TADA will use the funds to strengthen its position in Indonesia while expanding its entry strategy into the Southeast Asia region. In addition, team strengthening and partnerships will also be carried out to support expansion.

From our records, TADA series B rounds first announced in mid-2018, led by Finch Capital and backed by Sovereign's Capital. In the previous round, TADA was supported by a number of investors such as RMK Ventures, SMDV, Venturra Capital, and Gunung Sewu Group.

TADA Founder & CEO Antonius Taufan said the entry of MDI Ventures and TMI was a strategic opportunity for the company, enabling it to reach markets from various businesses within the group. Various synergy collaboration opportunities will also be explored. "This investment will enable us to fulfill our mission to improve business sustainability by enabling them to better retain customers."

MDI Ventures CEO Donald Wihardja added, "We see an opportunity for a synergistic partnership between TADA and Telkom Indonesia to provide more engaging and rewarding engagement and collaboration between various corporate clients in the Telkom ecosystem. This funding is also in line with MDI Ventures' long-term goal of empowering entrepreneurial growth. digital."

As is well known, TADA offers digital solutions for businesses to build relationships with customers (loyalty), help accelerate business growth and sustainability by maximizing customer lifetime value. The strategies applied also vary, ranging from digital membership, subscription, referral, and digital rewards platform. So far they claim to have 400 business clients spread across Indonesia, Malaysia, and the Philippines.

Indeed, not many local startups are playing in the realm of loyaltyHowever, apart from TADA, there are two other platforms that offer similar services with their respective approaches, namely GetPlus and Member.id. Earlier this year Member.id just announced series A pendanaan funding obtained from East Ventures and Traveloka.