Indonesia: MEMBER.Id raises seed funding in East Ventures-led round

Marianne Rumantir CEO and co-founder of MEMBER.ID, Robert Tedja co-founder of MEMBER.ID

MEMBER.ID, a rewards and loyalty platform, has secured an undisclosed amount of seed funding in a round led by East Ventures. Ismaya Group also backed the round.

The investment will enable MEMBER.ID – a platform for converting various loyalty points to various miles and redemption schemes – help Indonesian companies increase consumer retention via a tailored loyalty program solution.

It operates as an intermediary for both businesses and members of its customers base, acting as an end-to-end solution for businesses, providing consulting services to programme design to building and operating a business’ loyalty program.

This helps turn cost centres into profit centres and drives an increase in repeat sales. The Ismaya Group is the first corporate client of the company, with MEMBER.ID currently working to build out their loyalty program across various sectors.

Marianne Rumantir, CEO and co-founder of MEMBER.ID states, “Retaining customers is 5 to 10 times less expensive than acquiring a new one. Customers in Indonesia have a tendency to be loyal to discounts instead of being loyal to a brand because most businesses are pressured to focus on making quick sales. They don’t realise this can be an issue in retaining customers and will actually cost them even more in the long run.”

Currently, Indonesian consumers are geared towards cost savings, with existing loyalty programs being both complicated and failing to meet customer needs. For Indonesian brands to achieve long-term customer loyalty through value provision, they require better insights into evolving customer behaviour.

According to a media release, ever since MEMBER.ID took over and redesigned Ismaya Lifestyle Card Loyalty Program in late 2016, its members have grown by over 300 per cent in a 6-month period after introducing a tier-based points system which created real benefits for their members.

Willson Cuaca, Managing Partner of East Ventures added, ”It’s been difficult to find a loyalty platform with a holistic approach in Indonesia. Every merchant is in their own silo and consumers struggle to remember every loyalty program’s benefits. We hope to change this and MEMBER.ID’s team is in the right position to do so.”

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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.

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.