Indonesian gift card and loyalty startup TADA has announced raising an undisclosed amount of funding in a Series B round led by Finch Capital.
Following the funding round, which was also joined by Tada’s existing investors, Finch Capital partner Hans de Back will join the startup’s board, according to an official statement.
TADA, formerly known as GiftCard Indonesia, was founded in 2012 and provides gift and loyalty card services, including gift card processing and distribution through its corporate sales and retail partners.
The startup claims to have secured 300 corporate clients from various industries.
“The public are getting increasingly smarter and more aware of marketing [moves]. Businesses need to be aware of this and build a relationship that goes beyond transactions… The transition from cost-centric loyalty programmes to revenue-centric advocacy programme is a basic necessity for businesses today,” says TADA chief executive Antonius Taufan.
Commenting on the investment in TADA, Finch Capital’s de Back said, “We are very excited about the investment into TADA, as we believe that TADA has a very interesting offering where the company builds a stronger relationship with customers and offers the advocacy approach.”
Finch Capital is an early-stage fintech VC firm with a focus on Europe and Southeast Asia. Its previous investment in an Indonesian startup came in November 2017 when it led a Series A funding for mobile bill payment startup Ayopop.com.
This year, the VC has made a number of investments in Europe, the latest being an investment in U.K. online mortgage broker Trussle.