<article>Mobile lock-screen ads startup firm <a style="color: #000080;" href="http://www.cashtree.id/">Cashtree</a> has raised $4 million funding, the company announced today. The series A round of funding was led by <a style="color: #000080;" href="http://www.kipvc.com/">Korea Investment Partner</a> and <a style="color: #000080;" href="http://www.kcubeventures.co.kr/en/">K Cube Ventures</a>.</article>

Mobile lock-screen ads startup firm <a style="color: #000080;" href="http://www.cashtree.id/">Cashtree</a> has raised $4 million funding, the company announced today. The series A round of funding was led by <a style="color: #000080;" href="http://www.kipvc.com/">Korea Investment Partner</a> and <a style="color: #000080;" href="http://www.kcubeventures.co.kr/en/">K Cube Ventures</a>.
The company said it plans to use the fresh funds for expansion, as well as developing services.
Cashtree was launched in Indonesia in November 2015. Currently, it has 4.7 million users and expects to achieve five million user target by the end of this year.
The app operates in Android and allows users to get rewards in form of phone credits by installing ads on the lock screen of their handset. In Indonesia, Cashtree’s direct competitor include Popslide and Excite Point.
Dallen Kim, Casthree founder, claims that this is the most effective way for brands to capture the middle and lower class target market. It is in line with the company vision, he said, which is to widen the reach of Indonesia’s mobile industry by improving the user experience of smartphones.
“We have gotten more requests from brands and institutions than we expected due to the unique nature of our service, which has been proven effective to reach their target audience. I believe that with the support of our investors, Cashtree will have the momentum and power to grow into a massive advertising platform,” he said.
Commenting on the investment, Partner of K Cube Ventures Kijun Kim added that his company believes in Cashtree as a “rising player”. He is optimistic that Cashtree can be one of the main engines in the mobile ecosystem in Southeast Asia.
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Indonesia: Casthree secures $4m series A from Korea Investment, K Cube

Indonesia: Casthree secures $4m series A from Korea Investment, K Cube

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Indonesia: Casthree secures $4m series A from Korea Investment, K Cube

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