East Ventures leads pre-Series A round for loyalty service startup Member.id

Image sourced from East Ventures' Twitter account

Member.id, an Indonesian loyalty service provider and technology company, has announced raising an undisclosed amount in a pre-Series A funding round led by early-stage investor East Ventures. The round was joined by Taiwan-based VC firm Ace Capital and a few undisclosed angel investors.

In an official release, the startup said it will use the funding to accelerate new product development.

Member.id provides long-term loyalty solutions to businesses and currently serves customers across different verticals including transportation, hotels, lifestyle, F&B, e-commerce, retail and FMCG.

In the hospitality space, its clients include Ismaya Group, The Union Group (Union, Benedict, Café Milano), Syah Establishment (Lucy in the Sky, Sofia at the Gunawarman, Hotel Monopoli) and Artotel Group.

The company said its newly developed product will aim to enhance the consumer experience and enable more businesses to tap into the loyalty landscape.

“We are currently building a consumer facing product which can be used not only for point management but also point conversion across rewards programs. The second product underway is a loyalty product which specifically caters to SME clients,” said Member.id CEO and co-founder Marianne Rumantir.

The new funding round comes a year after Member.id raised an undisclosed seed round, which was also led by East Ventures and joined by hospitality firm Ismaya Group.

Member.id operates in a space where there are still very few players in Indonesia. Earlier in the year, a similar startup focusing on loyalty programs, TADA, raised an undisclosed amount of funding in a Series B round led by Finch Capital.

Commenting on the investment in Member.id, East Ventures managing partner Willson Cuaca said, “In Indonesia, there are very few companies that effectively invest in the knowledge of their customer preferences and behaviors, leaving customer loyalty as a myth in the country.”

East Ventures is one of Indonesia’s most active early-stage investors. Last week, it joined a $5-million pre-Series A funding for Singapore-based fintech startup Helicap. The VC firm was also reported to have injected seed capital in Indonesian solar development and asset management company Xurya.

Also Read:

Indonesia’s TADA secures Series B funding from Finch Capital

Exclusive: East Ventures, Agaeti invest in Indonesian solar startup Xurya

East Ventures makes seed investment in Indonesian AI startup Bahasa.ai

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.