1. Startups

Member.id Reportedly Obtains New Additional Funding [UPDATED]

Funding obtained from East Ventures and Traveloka

February 17, 2021 [17.20 WIB]: We are updating funding information based on the release received by Member.id.

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Loyalty service provider startup Member.id reportedly secured new funding of $1,1 million. Funding was obtained from East Ventures and Traveloka.

Based on our records, Member.id last received funds in 2018. The company secured pre-series A funding from East Ventures, Ace Capital, and several angel investors with an undisclosed value.

DailySocial contacted Co-Founder & CEO Member.id Marianne Rumantir to confirm the news, but there has been no response until this news is revealed.

As is known, Member.id targets the B2B segment by creating (design), develop (build), and manage (operate) corporate loyalty program in Indonesia. Some of the loyalty programs managed include Ismaya Group, Djarum Group, Garuda Indonesia. As of September 2018, Member.id has recorded transactions of more than 45 million points.

Previously, Marianne had revealed that her party would expand its business segment to B2C by launching loyalty wallets. Through this innovation, his party can educate the Indonesian market, which is considered to still lack information on how to check and redeem points. On the other hand, opportunities to develop innovation and business in the industry loyalty Indonesia is still considered big.

The plan seems to be realized through the launch of the application Madoo in 2019. This platform is points aggregator linking royalty programs from two or more different platforms. It is unknown if this platform is still running considering the app is no longer available on the Play Store.

More Coverage:

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Header Image: Depositphotos.com

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