The Kard, a location-based mobile loyalty solutions startup incubated by the IdeaSpace Foundation, recently announced that it has successfully concluded a new 17 million peso (US$372,230) round of funding led by Globaltronics Inc., the country’s leader in digital signage advertising.
The new round of funding allows the company to expand its location-based loyalty solutions through the launch of its official MobKard app, which provides users with the best and latest deals from the biggest brands that are near their current location using only their smartphones. Currently, the application is available for download in both the App Store and the Google Play Store.
“Everyone loves a good deal, and sometimes many consumers miss out on discounts and other privileges simply because they are not aware of them when they enter a particular store,” said Francis Uy, CEO and Co-founder at The Kard. “Mobkard brings this wealth of knowledge closer to users through a device that is closest to them—their mobile phones. With Mobkard, there’s no more need to carry discount vouchers or loyalty cards around, because all of the latest deals near you can now be found with just one tap.”
With MobKard, users get instant access to shopping information, exclusive privileges and deals, from a wide array of brands across multiple categories. A particularly helpful feature of the service is the “Near Me” tab that allows users to see what’s on offer in the immediate vicinity. Customers then receive useful information at the right place and the right time.
Business to communities
By initially focussing on what the startup calls “B-2-Communities”, The Kard has big-ticket names in retail such as Vans, LayBare, 360 Fitness Club, Bizu Patisserie, Nurture Wellness Spa, MedExpress, Sunglass Haven, and Dillinger’s, among many others, to provide these exclusive discounts and other privileges for its users.
Additionally, the startup has also provided location-based mobile loyalty solutions to over 14 businesses and organisations such as the AIM Alumni, Ateneo Graduate School of Business Alumni, La Salle Green Hills Alumni, PLDT SME Nation, SM Global Pinoy, and others, together with the participation of more than 200 merchant partners.
Given Mobkard’s experience, together with market feedback, and the success of this initial venture, the company is now poised to extend the benefits of its service to the general public through the launch of the app.
With smartphone penetration expected to reach 60 per cent by the end of 2015 according to Uy, brands and businesses need to be proficient in the mobile space given the emergence of the so-called ‘mobile-first generation.’
“We want to be the leader in this mobile space and with our strategic partnerships and this new round of funding, we are well positioned to make significant strides towards our mission of making a difference.” Uy concluded.